At the very least increasing the prospective resource and upgrading it too a contingent resource. To get reserves we need seismic, appraisal step out drilling with flow tests and probably some production data.
You can get reserves with just production data, but it would only encompass the area around the production well. After a period of time they can certify that a certain amount should be recovered with in the drainage area of the well. To expand out to full field reserves, there needs to be more data.
This is why results so far are conservative. 3D seismic is needed and tied to well data to get an accurate seismic velocity. The models developed too date are excellent but have changed drastically since A-1 & A-2 results.
best of luck holders
MAY Price at posting:
5.9¢ Sentiment: Buy Disclosure: Held
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