I agree also – probably at approx 3550 or thereabouts. While the...

I agree also – probably at approx 3550 or thereabouts. While the delays are disappointing as the market factored in results to be known some time ago, one should not loose sight of the fact that nothing has really changed with respect the prospectivity of Heron.

In the geological report published in the original Prospectus it states

“The main plays in Block 20 are:

(i) the Cenomanian sands sealed by the overlying Turonian micritic limestones and
shales which are 220 metres thick in Autruche-1; and

(ii) the Early Aptian sands sealed by the overlying Late Aptian micritic limestones
and shales, which are 380 metres thick in Autruche-1.

Source is provided by Mid Cretaceous anoxic black shales, which form the dominant source rocks along the West African margin (Clifford, 1984 and Tissot et al, 1984). In Mauritania, the source rocks also occur within the Turonian (mid Cretaceous but are possibly immature) and importantly in the Late Aptian (early Cretaceous) sequences where total organic carbon (TOC) contents up to 5% has been measured (Clifford, 1984). In the Mauritanian Salt Sub-basin, the Turonian and Late Aptian source rocks are thermally mature and have generated the hydrocarbons trapped in the Chinguetti and Tiof oilfields. In Block 20, the Turonian source rocks are immature, and therefore the oil and gas shows in the Autruche-1 well are interpreted to have been generated from the Late Aptian source rocks. These are deeply buried to over 4,000 metres depth to the north of Autruche-1 and are expected to be thermally mature in this area. Hydrocarbons generated from the Late Aptian mature source rocks are interpreted to have migrated updip and to the east and into the western part of Block 20.”

Therefore, as the source rocks for the first target were considered to be immature, it was always the Aptian target area that that was going to be of greater interest. This, coupled with an AVO anomaly at Aptian level over Heron (as quoted by Mark Fenton at AGM), seemingly good closure and less faulting at Aptian level, proven petroleum system as demonstrated by Dana’s discovery in Dec 05 at Faucon-1 located in block 1 – south west of Heron but in the same coastal basin (46 feet hydrocarbon zone) and live oil shown in Autruche seemingly generated from Aptian source the chance of success at Heron is probably greater than when the well first spudded given the extent of the claystones encountered which can act as an effective seal.

In addition 5% TOC is very high and therefore very prospective for hydrocarbon generation.

My opinion only but I wait the next week or two with great anticipation.

DYOR

Regards

Danash

Ps Apologies for the lengthy post