Does anyone remember Buru's Ungani North drill earlier in the year, when they thought the well would be non commercial, with the company announcing poor to fair oil shows only to be succesfully reevaluated with wireline logging later. They are redrilling shortly
Does anyone remember CTP's Surprise 1 well announcing 9m of oil shows in December last year with wireline logging confirming its ability, and then subsequent commercial success.
25 metre of, oil shows is a very large oil column. Most oil explorers are lucky to find 3-5 metres. And the word "Continuous", certainly makes this one interesting. Still can go either way.
If a duster, the project certainly goes on. Bring on Derby block next year with Buru.
OBL Price at posting:
2.8¢ Sentiment: LT Buy Disclosure: Held
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