re: HDR- Sailorgirl's Tealadies? Woodside/AGIP have removed all...

re: HDR- Sailorgirl's Tealadies? Woodside/AGIP have removed all mobile phones from the tealadies, however an intersting post on Ozestock reads as follows.

"SSB Research notes on Chinguetti-4-2.

This research was issued on Sept 4. All valuations are for WPL. Most importantly, they don't seem to be the least bit concerned about the sand affecting the flow rate. Infact, the very low flow-rate of 1560 doesn't even get a mention as being a risk to the commerciability of the well.

Chinguetti-4-2 (PSC B: WPL 35%, HDR 21.6%, ROC 2.4%) appraisal well located offshore Mauritania, West Africa has flowed 1560 bopd with 650 mscfd of gas through a 30/64" choke.

† No information has been provided on the thickness of the interval tested, however the flow was restricted (1/2" choke) due to sand flowing with the oil.

† In the future this field will likely be developed using gravel packs to limit sand production and allow much higher oil flow rates to be attained from the production wells.

† A production test of a second sandstone interval in the primary objective is to immediately follow. Afterwards, the Chinguetti-4-3 appraisal well is expected to be drilled on the south eastern margin of the Chinguetti structure.

† Should Chinguetti-4-3 also find oil then we believe Chinguetti oil reserves could lie at, and possibly be above, our upper end range estimate. We rate Chinguetti as a potential 100 - 150 mmbbl oil field discovery worth between A$0.20 - A$0.40 per share to Woodside.

† Woodside is on the verge of unlocking a new major deep-water petroleum province in the Mauritania Salt Basin offshore, West Africa. On this basis, the potential upside from WPL's basin-wide position could be very significant. WPL has defined more than 40 leads in its acreage in PSC areas A, B and C. The potential for more oil discoveries from Chinguetti look-a-likes is therefore considered to be very good.

† Banda (PSC A 80%: WPL 35%, HDR 24.3%, ROC 2.7% and PSC B 20%) is located in only 280m of water depth, 21km east of Chinguetti, and most importantly within the catchment area for tie-back to Chinguetti. Pre-drill estimates for Banda of around 90 mmbbls have now been eclipsed after the interpretation of the latest seismic data (notable DHI across entire prospect). Hardman now claims mean potential recoverable reserves of Banda at 290 mmbbls. A 90 mmbbl discovery at Banda tied back to Chinguetti could be worth A$0.24 per share (unrisked) to Woodside.

† Our long-term BUY (1M) recommendation is maintained."