Hi all,
Regarding today's announcement, anyone here attending the investor presentation in Melbourne next Tuesday? It certainly looks like it's worth attending given the substantial size of this Silverwood oil & gas program. If so, any feed-back I'm sure would be very much welcomed. :))
They've tried drilling it before and as a result..."In 2008, a third well was drilled. This well experienced a controlled blowout with significant oil and gas coming to surface due to the unexpected high formation pressure."
Moreover,... "The Silverwood Prospect is a relatively low risk, high impact oil and gas exploration project located onshore South Louisiana. The prospect lies beneath an existing field which has to date produced over 7 BCF of gas and approximately 1 MMBBLS of oil on a fault closure."
The reward appears to clearly outweigh the risks here. This will likely be a multi-bagger if they hit "paydirt".A good overview can be found here.
Sagitar
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