From ROCs website:
Prior to the Ceiba discovery only 6 wells - all exploration wells and all dry - had been drilled in the Rio Muni Basin (Equatorial Guinea). Triton (Amerada Hess) has now drilled 9 further exploration wells subsequent to the Ceiba discovery in the F and G Blocks, with the last 5 being successive new field discoveries.
Mauritania is on a similar trajectory to Equatorial Guinea. A lot of misses in the pre-3d Seismic days, with a 50% hit rate using modern techniques. If this trend continues (and its still early days) amd half those 55 leads come in, HDR will be worth at least the same as Triton was when it was taken out for $A6 billion.
Incidently ROC have some promising acerage 90km North of Ceiba. Worth keeping an eye on....
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e.g. of An informative report., page-7
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