Must admit, I have found today's sook very interesting. If (noting big if) the net pay zone grows to 538, that would mean (very roughly speaking) a net to MAY of 187M assuming no increase in recovery factor. This still doesn't include Unit 3 yet. Plus this whole drill is still the old "upper sheet". i.e the accidental bonus oil. Yes it is going to be heavier and less pressurised than ideal but that is because it is so (relatively shallow). To put 187M into perspective. KAR (offshore, but at least a pure oil play) have 3P of 61.5 and 3C of 146.3 (as at 22 Ann Report). They are valued at ~1.3B. So this absolute jag bonus prize "rubbish" oil that we are currently testing is almost as big as KARs total reserves and resources. Yes I know ours is all U (not even C or P) but this is onshore and a nutless monkey could sort out the FDP for this stuff and get the resource upgraded. Plus the actual real prize is still yet to be drilled. Let's get this free kick stuff flowing from her and get Alameda 3 cranking, as it seems only then will people actually believe what is happening before their eyes.
MAY Price at posting:
10.3¢ Sentiment: Hold Disclosure: Held
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