"51 million barrel estimate at SD (with who knows how much "potential upside") will help."
I was reading the ADX AGM presentation today and noted the comments on slide 31...
P10 is 111m barrels and P90 is 13m barrels with the mean being 51m barrels (as announced today)
so upside is double what was announced but... only 10% chance!
also noted that ...
- Three Cretaceous reservoirs pre drill (Abiod, Douleb, Bireno) - Oil found in Bireno reservoir, others absent
My comments... So they have stated that no oil in other potential reservoirs, although that doesn't mean they won't go back and test these zones. Interesting that theres no comment around gas at all. Thats a shame as gas is trading around double/triple the value of gas in australia & USA i.e around $9/GJ
My thinking is they have learnt a hell of alot about this area from this drill and they won't stop here. I can imagine this is a multiple well area with many zones of interest. What I really like is the nearology of both producing fields and existing infrastructure to get product to market.
Miki - i wish you the best of "luck" with the many millions I know you hold. We are now on the getting closer I think.
cheers
Maddoc
VIL Price at posting:
0.9¢ Sentiment: Buy Disclosure: Held
