You been on the Cloudy Bay on a school night again, Rasa?
Prior to drilling, Rafa was anticipated to be an oil prospect in the deep Ungani Dolomite equivalent formation and according to Bhutos’ Stockle preso:
Best Estimate of 37 mmbbls - 60c
Mean Estimate of 69 mmbbls - $1.12
High Estimate of 176 mmbbls - $2.85
However, it turned out to be a gas & condensate discovery. There has never been any suggestion of any potential shallow oil in the Poole Sandstones and Grant Formation overlapping the deeper discovery until now. Mine’s a Steinlager, cheers.
BRU Price at posting:
9.9¢ Sentiment: Buy Disclosure: Held
