No more dry holes please ! :) It's been a dismal performance from WPL after having a 100% strike rate in the Miocene sands for the first few years. I might be reading too much into HDR's news releases but WPL give us no other choice with Potter being gagged. All we can do is read between the lines as best we can which is the reason I believe Espadon was testing the west side compartments of the Espadon prospect as I mentioned yesterday. Any views?
Look at the comments.
Before results.
Well Details: The well is targeting a salt dome with draped Lower Miocene sands in a similar structural setting to the Chinguetti Field. The sands are of approximately the same age as the Chinguetti and Tiof Oil discoveries. If successful the well will prove that oil has migrated a considerable distance to the west of the Tiof area.
After results.
Comment : Whilst no significant hydrocarbons were found at Espadon-1A the result does not impact the prospects for good quality sands or oil charge in the main canyon system to the west of the Tiof field. Indeed the thick shales encountered at the well location could assist in stratigraphic trapping of hydrocarbons within the fairway.
Again, just my opinion of course!
Anyhow, Labeidna has the highest POS of the 140 leads identified which can only give us confidence. Colin also has the highest POS out of the "100 million barrels plus" prospects.
Cheers, xmagx
HDR Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
