market undecided, page-5

Can't munderstand the market on this one. The oil column has to be 39 metres and is likely to be significantly more. Let's say its somewher in the middle - at 60 metres. Then that would mean 120mbbl according to HDR's estimates - and that's recoverable. That's a fabulous result!!

Remember that they said Tiof was drilled at or near the crest of the structure. This could explain all the gas and perhaps the poorer quality lower reservoir. So they have a find similar to but somewhat bigger than Banda. When they drill further away from the crest there is likely to be more oil?

Let's see what everyone does when they get back from lunch and when the Perth traders get serious. There may also be a delayed response once brokers assess the find and issue valuations.

If it doesn't respond - then unfortunately it will be looking tasty to WPL and others.

H