pelican has oil deeper down. Hi Olive.
Great post. Surprised it hasn't got more attention. It was an eye opener for me.
...fluid composition, pressure and structural data point to the possibility of a SIGNIFICANT OIL leg below the lower of the two major gas accumulations. In particular, fluid inclusion work on the rock samples indicates a light oil with a gravity of around 40 degrees API.
Wow! Dana stopped drilling at 12,500 feet. If they ploughed down a little deeper, another Chinguetti? All the valuations on the other thread make no allowance for Pelican oil.
This also piqued by interest:
.we are planning to drill Dana's next Mauritanian well in Block 1, in the latter part of 2004, where our exploration team is focusing on two prospects with combined reserves potential approaching 500 million barrels of oil.
On top of the Woodside wells we might have another 500m barrels coming from Block 1 & Dana.
However you do the math, you must admit that HDR has huge upside. And no other ASX stock gives the adrenaline rush of wildcatt drilling for elephants. Hang on to your hats guys, its going to be another rollercoaster when the drill bit starts spinning.
HDR
hardman resources limited
