Ann: Investor Webinar, page-81

Complex in detail and without directly interpreting the data the following is largely theoretical.

Most carbonates with a shale seal provide reflector which can be mapped accurately in time and if the velocity field above is not complex, the depth map can be relatively accurate. So the structural closure should be somewhat known and after a few appraisal wells to measure the velocity field, a more accurate depth map will emerge. Note for many fields this is the most important factor and will help drilling and volume estimation.

The other important things everyone wants is reservoir variation and fluid prediction. These are attempted in various ways and many different versions of the 3D cube are produced to enhance the information that might be valuable.

With only one well as input and therefore no spatial check on the data, there will be some belief that sweet spots in the oil leg can be seen on seismic and targeted by seismic ahead of the bit. Drilling will teach them some humility but by well 4, the team will know what they know and what they don't. The complexity of the geology and the detailed information sought makes each field unique, and while interpreting many fields is helpful it teaches you the limit of what you can see in detail about the rocks from 3km.

In the end, they will need a few appraisal wells to really find out what they have but the 3D is a great first step (and the data looks pretty good for a fast cube).