Ann: GGP: Oil encountered in Acosta Well , page-2

Hi Mark,
Found the announcement released about the Acosta well today was very timely and encouraging but also left me puzzled.

The heading to the announcement indicates that oil has been found in the Acosta well. Very good.

Now maybe I have missed something but I found it a trifle difficult to work out whether the oil has been identified in the Camerina layer or in the Miogyp layer or in both ?

The second sentence in the announcement talks about " Logs and side wall cores have been run and initial results indicate over 20 feet of net pay in the Miogyp Formation and over 20 feet in the Camerina Formation."

The term "net pay" may mean something to somebody well versed in oil company jargon but I am not sure whether that means that that it is oil or oil and gas or just a general reference to undisclosed "hydrocarbons".

So is it an indication of oil at both the Camerina and the Miogyp or just at the Miogyp with perhaps gas at the Camerina. Or do we not have enough information yet to be absolutely sure ?

I am not sure at what level my "excitement response" level should be set !