if volumes continue to grow at this rate..., page-10

Graham, as far as I'm aware, that 7% COS on Argentina is 2% better than Oromin and OEL were quoting on it sometime back.

As far as I know, they are going to drill a mapped structure here rather than a seismic target...drilling a mapped structure can never be afforded a decent COS because of the large punt being taken.
Oromin have previously said that "there will be a program of surveying and seismic work carried out over the Santa Rosa dome prior to drilling", but I can't recall OEL making any ann. that seismic has been obtained.

Why take this large punt?...two reasons that I can think of
1. The basin is a prolific oil producer, albeit to the west rather than the east where it is still undrilled, but the geography indicates a possible oil migration route through this area to sub-basins further east, as well as being underlain with the same sedimentary sequences as the oilfields to the west. The Santa Rosa Dome is a large structure located right smack in the middle of everything.

2. The drilling costs are pretty cheap.

Having said that though, I'm not too fond of the "business address" for this project!

Does anybody have information on whether any seismic work has been purchased or carried out by Oromin in relation to Santa Rosa?