very positive announ today. worth reading in full'The Abiod...

very positive announ today. worth reading in full

'The Abiod Formation in the Hammamet West discovery has P50 oil-in-place of 475 million barrels,
with 101 million barrels of P50 contingent resources, assuming the known 190m oil column. If
Hammamet West-3 encounters a longer oil column this could significantly increase the oil-in-place
and the contingent resources. A secondary target in the Hammamet West-3 well is the Birsa
sandstone which is assessed to have 33 million barrels of P50 oil-in-place, with 10 million barrels of
P50 contingent resources. The field is in 50 metres of water and 12 km from shore and a conceptual
development plan prepared by Worley Parsons suggests that 12 million barrels of oil could be
economic."