For those who don't know it is 8.6 mmbls of 2P reserves in the Triassic , certified by Senergy . P50 stands at 12.2 mmbls . Arrived at via the nearby producing wells NW Akkar field . Obviously the recent discovery will add to this figure in due course .
The Jurassic is estimated by management around 20 mmbls and IMO will be re estimated soon as shows have been found to exist at NWZ2 and J50 in the Jurassic .
J51 aims to increase further the reserves in the J and T structures . The target of J51 is very much larger than the current target area .
It is quite clear to me that the local oil field is well and truly represented into Block 31 . In fact my interpretation of the mapping is that the field may actually be mainly on Block 31 as the neighbouring oil is found so close to the boundaries .
Proving up the oil will take more time but blind Freddie can tell the field is full of potential . Those that buy on potential will do better than those who wait .
JPR Price at posting:
5.9¢ Sentiment: Buy Disclosure: Held
