Hi OldGeo and others,
Yes, i agree on some of your analysis, however we have only been shown a glimpse of what Byron would have in the data room.
We are presented with look good tit bits, and generally the punters look and think they look great.
I, like you, choose to dig deeper, and based on the amount of money one has invested, and the ability to understand some of the given information to make a better informed decision, I choose to research as best I can.
The water contact or otherwise for either prospects does not really concern me, as i believe Byron have a far better handle on that than they choose to divulge to the public.
What I do like about BP and this latest presentation, is that it shows that the prospect is open to the right (see your map) which confirms to me why they purchased the govt lease to the right "as a buffer" it was termed.
And they also purchased the lease at the bottom of BP deep for the same reason, I am quite sure if we were privy to the information they have accumulated on these prospects, we would all be very excited.
We need to consider that these prospects have been well drilled all around with nil or limited results and using all of the information that has been gathered from this area and perhaps wider, Byron has applied the Reverse Time Migration technology to identify these prospects.
When looking at byron's Sm74 latest presentation, i was interested at the amount of oil wells that have been discovered not too far away from their current prospect, and the fact that the fault that separates this prospect from the ones at the bottom of the page on the 13500 amplitude map, which, when you compare the 13000 and 13500 maps show a completely different story.
Again, I stress the RTM technology that they are using, does in my opinion, greatly contribute to their ability to capitalize on seemingly average prospects.
Byron sums up one of their keys to success as follows when commenting on the EI Prospect,
"The high potential of these blocks was recognized 5 years ago during which time we patiently put this play together.
Patience is a key attribute to any successful exploration program."
I am quite confident Byron have had this current BP prospect under their hat for quite some time, and did further work using better technology on BP,which caused them to purchase the state leases around this pay as a result. Hopefully, will all be rewarded for our patience soon.
IMO DYOR.
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