Latest Research Report by DJ Carmichael now on Riato Website dated 29/06/12.
Excerpt from the article:
Gazelle P-3 results not that bad: RIA has been sold down recently mainly due to the uncertainty surrounding the Gazelle P-3 results and the fragile market. In our view, the Gazelle P-3 results were initially misunderstood by the market mainly due to the lack of clear expectations set out before the drilling program commenced (e.g. upside appraisal of UC-1).
Encouraging results with an additional two wells to be drilled: Gazelle P-3 yielded encouraging results including a 75 metre gross interval below the Condor exploration prospect and a 200 metre extension to the Lower Cenomanian (LC-2) sands which is one of the primary field gas reservoirs. LC-2 is planned to be targeted in the Gazelle P-4 well which will commence drilling following the Gazelle P-3 testing program. The third well will be the high impact Chouette exploration prospect (84mmbbls oil and 42bcf gas) with success a game-changer for RIA.
Check out the website for the full report.
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