Just like to say, THIS IS A MONSTER. With two more possible MONSTERS to come.
And so much more to come still on Alameda alone!
Andrew Purcell has confirmed:
The volume of oil in place from the first (Amistad) structure has been independently estimated to contain 2.5 billion barrels of oil in place with a combined Prospective Resource of 119 million barrels of oil (100% share, mean estimate)*
Still to come...
Logging data now being incorporated with other geological data to prepare an updated resource estimate.which will be provided to the independent reserves certifier. We look forward to releasing the results of their assessment of the total oil in place for the three structures encountered by the Alameda-1 exploration well in due course.
And more net pay from this resource to come...
This does not include an additional (the bottom) 16 mMD of this reservoir interval (where the strongest hydrocarbon influxes were encountered) which could not be logged due to the physical configuration of the logging tools, but likely contains additional net pay
THIS IS A GLOBALLY SIGNIFICANT DISCOVERY AND THE WORLD IS ONLY JUST WAKING UP TO IT. It is also likely to become one of the top oil exploration discoveries of 2021/2022. I can now see why AP was trying hard to contain his excitement at the webinar. Here is some context:
In the Alameda alone, we hae a propsective resource of 119 million barrels of oil,
Alameda ON ITS OWN, compares to some of the Top Oil Exploration Discoveries of 2021.
e.g.
Gulf of Mexico - In 2021, Eni announced a sizeable potential recoverable reserves estimated between 150 and 200 million barrels of oil.
Norway - Vaar Energi revealed between 60-135 million barrels of recoverable oil reserves from the North Sea. And Neptune Energy 75 and 120 million barrels of oil.
I remain very confident that Melbana will quickly hit a new high of 30c, and then onto 50c and 70c and even higher.
Congratulations all. Patience has paid off.
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