On the hydrocarbons front, I was once involved in the drilling of a well in Louisiana. Found nothing in the primary targets, but in a zone we completely didn't expect was 30ft of fantastic gas pay. Beautiful reservoir, logs were fantastic. So the well was completed (at a cost of 4 million) and an extended production test commenced. Unfortunately, during the production test, the reservoir pressure dropped rapidly, indicating that our 30ft sand had 2nd and 3rd dimensions of about half a football field. We're still scratching our heads over how that was possible given the data we had! End result: $22 million written off.
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Ronald Miller, Non-Executive Director
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Non-Executive Director
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