analysalotYes OSH's stated Nabrajah reserves are conservative....

analysalot

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).

H