Watch very carefully - but I think can bank on surprise on the upside.
Clearly the structures found, are not only significant Oil finds in their own right, but are just the upper traps of what will hopefully be larger and deeper structure underneath....the mother load.
The significant statement was that there was a thin section of oil bearing sands which they believe to be the thin edge of a wedge that dips downwards.
the second sidetrack is being called an 'exploratory well' which would indicate that this downward dipping section was not expected, and sits below the 2350mtr targets they clearly thought was the extent of oil bearing formations. note also five cores taken from the sidetrack, 2 more than the identified three significant Oil bearing structures.
They are following the trail deeper. Its not a question of is there oil down deeper. Just a question of how much.
Good luck to holders
ROC Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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