It is very interesting a quote off the nido website may give a clue into what they belive the field to contain.In September 2008 Gaffney Cline and Associates independently certified the 2P oil reserves of the field at 24.6MMstb.
Work is also underway to assess the technical and economic viability of a Phase 2 development of the field, which GCA estimates may yield up to 55 million barrels at 3P reserves.
http://www.nido.com.au/assetsstrategy/ourassets/Galocoilfield/tabid/72/Default.aspx
It seems as though oel have not once updated there reserve estimate hence why nido came out so quick to not agree with oel reserve estimate.This could help add fuel to the fire though what does oel get out of seemingly understating there own reserves it seems bizzare. Bring on a increase in reserves it would be great to get oel to agree with a reserve estimate update.
galoc reserves update soon?, page-2
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