Rare find a company using P10 figure as big title in its announcement.
Katherine East Prospect looks very promising, but the comapny said the estimate is based on : "Assuming a continuation of the same reservoir conditions observed at Katherine West, Exoma has interpreted that the Katherine East prospect has the potential to contain Oil In Place of"
My goodness, such serious announcement is just based on : "Assuming" why the company didnot assume 2 billion bbls in place.
Nearly click the buy botton this morning but at last scared by the "adverse well conditions" "a sample of crude oil was recovered from the drilling fluid" "10 metres of potential oil pay" 10m is already short enough, what "potential" here means?
IMO Katherine-1 already failed, No matter how the company explained the promising aspects, there is no commercial oil flow at all.
EXE Price at posting:
13.0¢ Sentiment: None Disclosure: Not Held
