libra estimates, page-4

Kwaidan

I did look at a higher multiple in terms of acreage i.e. 7.5/10/15 sqkm, that gives us 2.9/3.8/5.8 TCF. However I thought of sticking with 5 sqkm for the time being.

As for the future wells, I'll take 100ft as long as we dont get a higher GWC & sidetrack to hit the sweet spot. I know 30m is not worth justifying an offshore well considering high costs involved. But, that's where the high confidence in seismics cometh. I can imagine what the morale of the Ops team would have been, when Crux-2 came up with such poor thickness, UNTIL they thought of sidetracking. God help that brain-wave. They've done that at Longtom & I've seen operators resort to that option offshore.

If the seismics are good then a good interpreter will crack the code for them.

Modern exploration techniques have come a long way then the 2D x-ray, 3D rules & I believe in it, as its taken the no. of discoveries since the early 90's to a new high. Thats why NXS & other explorers spend a lot of time in doing their homework right.

What to expect next? Two things I'd say, one being the Libra field size & two, the farm-out news.

cheers