re: oil
We know there is oil at Donga so the hole should have been successful. There had been 3 previous wells to learn from. The purpose of this well was to enter the oil bearing sands and stop short of the water contact. That was done successfully.
Now the oil doesn't flow, although it flowed in all previous Donga wells.
My feeling is that the structure has been blocked with drilling mud which was too heavy for the application. (Just as it was at Banff)
Good oil discoveries are often lost by poor drilling practices. These guys should be dismissed immediately.
Lets hope BOW can salvage this hole.
Success at Donga is worth 30 cents to BOW.
BOW Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held