Yes OSH's stated Nabrajah reserves are conservative. In fact DNO said they were around 68m barrels, but they are revising that upwards significantly as far as I know. Remember that the Basement reservoir is fractured granite not sandstone so its a different sort of play type - the oil is in the fractures so net/gross is different. They are doing 4 Basement appraisal wells to get a better idea of its size. I expect it will end up 100-200mbbl (similar to there fields in the area) or possibly significantly more. Appraisal drilling starts in August after Nabrajah #7 in July which will be a Quishin sandstone producer. This could end up adding 50%+ to OSH's current reserves of 132mbbl (3P).
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