This statement is interesting as they were expecting oil first. I guess as there are multiple sands that oil can be above or below gas.
"The prospect is located on the flank of a producing salt dome where two high quality targets have been
identified. The first target is shallow oil (7,000-8,000 ft) and the deeper target is gas (7,500-9,000 ft). Total
dry hole cost to drill the initial well is approximately US$1.5 million."
There is still over 33% of the main target to drill so these already awesome results could easily improve again and I am expecting a fourth gas show announcement on Monday. I hope its first oil show , but I think it will more likely be gas as that's what they were expecting in the first place.
Gl all for Monday, but I dont think you'll need it )
Regards Budfoxx.
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This statement is interesting as they were expecting oil first....
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