oil in dem sands Original target depth 2839 mBRT
Current depth 2860m BRT
New extended depth: 2930
Can mean one of two things:
1/ Found nothing and seaching deeper.
2/ Found Oil and searching for water [bottom pay zone]
Given that they are drilling 300mtrs from defined existing resevoir that clearly dips. I would say that chances are better than good that option #2.
If so - 90 extra meters of ???????
Hold on tight for the announcement. I think that is why it spiked late last week. People in the know. Current price drop more likely traders marking to market vis-a-vis the fall in price of Oil.
goog luck to holders
oil in dem sands Original target depth 2839 mBRTCurrent depth...
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