lets get serious, page-19

re: lets get real ! Hi all,

Well not a lot I can add to abuman's great post along with the others who attended the Melbourne presentation. The way I'm reading the current Mauritanian exploration is to prove up as many commercial discoveries as possible outside existing EEA's to retain acreage rights for a further 25 years. Unfortunately things haven't gone our way so far. We must remember that we have just three years to asses over 60K square klm's which is impossible, hence the focus on prospects outside the current Chinguetti and envisaged Tiof EEA's. Tevet was the only exception which might have something to do with the planned Banda appraisal IMHO.
As most of us agree, we need many years to test the vast amount of prospects in the basin which is why I feel the JV has no choice but to secure as much of the real-estate as possible. We can always go back to prospects within the EEA's for 25 years which is why the prospects closer to Ching and Tiof (bar Tevet) have yet to be tested IMHO.

Going back to Merou. Dean believes it was a crest drill but was not certain. Looking at the seismic it appears that a fault separates the Merou drill from the Tiof side of the fairway. Any opinion there geos?

How low we go from here I'll leave to the chartist. I feel the JV are doing what they have to do from a longer term perspective. A little more luck would have been nice but the show will go on for many years to come IMHO.

Current sentiment, No doubt Sh*thouse ! But I'm sure there will be many more discoveries in Mauritania.

Good Luck to all!

Cheers,
xmagx