Reserve certifiers would look at all metrics including fractures to determine reserve/resource figures. Naturally they are inclined to be conservative given the impact the figures have on companies, it's much like an audit where they assess the internal company figures. Given the changes to the interpretations I'm not surprised it's taking longer, we now have something of a giant oil field just in the Amistad.
We will attract a lot of attention soon as the majors including the US ones have a look. The Guyana oil discoveries are only 100-300m thick net pay over multiple reservoirs, what Melbana has drawls each individual field. Given that there are over 20 similar prospects in block 9 we could have a lot more oil then the golden mile.
MAY Price at posting:
8.0¢ Sentiment: Buy Disclosure: Held
