Is CEO Ted a Saviour or a Shyster?, page-8

re: Is CEO Ted a Saviour or a Shyster? to Towie Hi Towie, I am also curious about the decision to drill the Ching appraisal to a depth of 2925, 300m deeper that the original Chinguetti well. Its probably nothing to get excited about. The target zone in a salt dome gets deeper as you move further from the apex, so an increased depth would be expected. Also, I'm not optimisitic about the column size. If they are trying to delineate the edge of the structure you would expect a much smaller oil column.

Nevertheless Ollie has speculated about the potential of a deeper target. "Some seismic in the public domain suggests truncation of deeper sands against the walls of the salt diapir. If they are testing that play, unless they drilled a deviated well, they would probably drill the main target below the oil/water contact. ".

Let's hope he's right, or better still, the JV starts to give us some decent information on the drilling that we are paying for as shareholders.