dr daz and ya have lost their love hearts

i see reading over a few old blackwood posts that the good dr and ya have both lost their favorite love hear symbols...

are we the better for not having their posts? i, for one, think not.

i am still continuing researching blackwood's drill history through to significant eni and meo 3d mapping variances. can't wait for the resource upgrade to come through. if eni's presentation, avail via meo's website is anything to go by, then i agree with the likes of some great and loveable posters that blackwood could well be as big, if not bigger than, heron's currently released p50 of circa 5tcf... don't forget blackwood's plover reservoir was encountered at circa 3200m which is circa 1000m shallower than heron and blackwood's plover was encountered at similar depth to ES.

see ENI have really pulled off a great deal by including blackwood. eni rolled the dice on heron and hs1 failed to produce the goods. whether eni take-up the heron second well option remains on the table. i have my view but will save that for another post. however, getting back to blackwood, eni can (and will) pick up 50% for one well as I believe this was the prize (like others have posted) that eni was always their favored prospect (relative to heron). why, because of the additional very, very modern 3d run over 750km, what was in excess of what was required by the jv with meo, the much lower risks of the shallower drill, the cheaper drill costs, the high co2, and the similarities to ES plover depth, seismic, high co2 and also right next door to TS.

maybe the quarterly will be out early this year (and not at the end of January) (watch this space), eni will commit to blackwood, eni will most likely commit to heron (too much too gain for so little extra to spend relative to hs1 drill costs of $115m), 454 farmed out, sp rises and either a CR at that point in time or TS JV announcement with ENI as ENI will be keen to politely offer MEO as much strategic assistance as possible with MEO SP blood still on the streets.

meo execs will not want to do a CR at circa 10 cents as every option they have will be blown away. remember big push in last 18 months by board to make exec remuneration packages incentive/option based. watch this space.

me, i await the quarterly before buying more as I need some info confirmed via quarterly. if i have to pay a few cents premium post quarterly released then happy to do so.

happy new year

adl