You missed the most important factor ..
"Arc Energy is pleased to advise that the Valentine-1 well has been drilled to target depth. After running the full suite of wireline logging tools over the secondary and primary objectives, we have determined that the structure is filled to spill point and that recoverable oil in place is 200mmbbls .... and reservoir quality is EXCELLENT .. it's all HYDROCARBONS!!! must have been a huge cavern full of oil!".
am i missing something, page-6
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