JT your glasses are fine picture this we start with an assumed pool of oil - certain depth and diamater. We have 4 wells that confirm depth ( size of large oil column) is consistent. then we drill Basham and find these sands extended alot further than estimated and are found higher than prognosed meaning the pool is both likely alot deeper and alot larger. Then we have 2 more wells and in the 1st well we find underneath this pool lies another pool( birkhead) we dont know how big this secondary pool is but we know it may be big and it flows oil. Then we drill the second well and we find that the oil column isnt getting any smaller to the east but actualy larger than estimated and we now expect the field is bigger than the last two assumptions so in summary we start off with initial find that we know due to column its a monster field - BPT state on of the biggest oil filds in CB from well one , and reg goes on record of saying its likely a 10-20 million field. Then we drill basham and its upside grows, then we drill bauer 5 and 7 and upside grows again. So i assure you, your glasses are not rose coloured.
it was good to see the big oders coming in at close to have ot close in the green
BPT Price at posting:
$1.19 Sentiment: LT Buy Disclosure: Held
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