That's true, but there are a few little things in there worth looking at. The main one being they are now most likely examining the new 3D now received that was shot (hopefully) for the area adjacent to the recent large find via the Horseshoe wells immediately to the west of the GB/OEL area. The previous preso (4Q16) showed the Horseshoe wells as a spud in 1Q17, now we know the results.
This is very interesting, as immediately to the east of the GB/OEL blocks lies the Meltwater Oil Pool (100mmbls) which peaked at just under 11,000 BOPD in 2002, and to the north of that (nth east of GB/OEL blocks) lies the Tarn Oil Pool (230mmbbls) which peaked at just under 37,000 BOPD in late 2002.
Meltwater Oil Pool Tarn Oil Pool
So the GB/OEL blocks in that vicinity are almost "surrounded" by oil pools!
Just to give that a bit more perspective, here's a link to the Kuparuk River Oil Pool (14Bbbls) which the experts say the pay bearing intervals of run in a nth east/sth west direction.....pretty much to the front door of the GB/OEL acerage adjacent to the Horseshoe wells imo.
Kuparuk River Oil Pool
Additonally, I think we'll be getting at least one more exploration well during the development drilling of SM71 later this year, where they have two more intervals they want to test. Hopefuly another boost to reserves.
Also, interesting that they've shown the sp could be as high as 25c (or more) on success at Bivouac Peak, which personally I'm hanging out for the drilling of, as I've mentioned before.
