Tiof has great gross depths, but these depths are made up from lotsa thin layers of oil producing sand strata rather than a long net column of oil bearing sands.
Hence, 160m gross can mean ... 5m oil sands + 10 m solid rock + 5 m oil sands + 10 m solid rock + + until 160 metres gross is reached.
What does this mean???
Sand pak + sand pak + sand pack + ... = expensive.
This was the problem with Tiof 3, hence abandoned test. Tiof 6 had better geology, ie less thin stratas.
So ... the decision with Tiof is ...
keep looking for easier production wells ...
or concentrate around Tiof 6 ??
HDR Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held