Ann: Fausse Point Well Update , page-68

tynawg,

Here is some data re surrounding wells. Most of these nearby dry holes are 1950's - 70's vintage. From what I understand, GGP are using modern day 3D seismics to identify high probability prospects in this once supposedly 'dry' area. Targets are in some cases deeper than the original wildcat wells, some of which only went down a few thousand feet. An article I was reading recently was about this exact strategy. 3D seismic's are well known for identifying huge reserves very close to wells previously thought to be poor quality or dry. eg back in Aus, Perseus accumulation (gas) by North Rankin 4 well in 1972 was found to be poor. Later reprocessing of old 3D Seismic's with modern techniques and new 3D runs found traps containing 8-12TCF. Now producing.
I think the probability of a good outcome of the Fausse Point project is quite high. Definitely worth some of my $$ being invested in it via VIL and GGP.

Hope the data is of interest.

Cheers.