Well done all holders appears its likely to be commercial field ...
Company said "...Distinct oil types ranging from 28° API up to 41° API from a number of oil samples recovered to surface..."
A few words on the oil type. Appears to be Light to Medium Crude which is quite valuable....with possiblya small proportion being a premium product with an API above 40 .
Generally speaking, oil with an API gravity between 40 and 45 commands the highest prices. Above 45 degrees the molecular chains become shorter and less valuable to refineries.[3]
Crude oil is classified as light, medium or heavy, according to its measured API gravity.
- Light crude oil is defined as having an API gravity higher than 31.1 °API (less than 870 kg/m3)
- Medium oil is defined as having an API gravity between 22.3 °API and 31.1 °API (870 to 920 kg/m3)
- Heavy crude oil is defined as having an API gravity below 22.3 °API (920 to 1000 kg/m3)
- Extra heavy oil is defined with API gravity below 10.0 °API (greater than 1000 kg/m3)
Well done all holders appears its likely to be commercial field...
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