Sorry But that statement is rubbish.
Thickness of reservoir has no control on the oil water contact mate.
And although I will be shouted down this report from Bell is almost as bad.
With only 29m of reservoir over a 500m interval and several different API oil recovered indicates to me a wonderful technical success and zero likelihood of a commercial discovery.
The individual reservoirs are not that thick, can not be resolved on 3D seismic data at these depths and you will have to drill another well or two to prove if better ie thicker reservoirs exist within closure of the fan prospect.
How FAR going to pay for that?
As for the current well I will be surprised if it finds any reservoir at all and in my view should not have been drilled.
32 Cents - Bell Potter Broker Report Summary, page-14
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