Each field is different & the signature deciphered from the seismic bright spots at Zeus are similar to Perseus, which is a stratigraphic trap with Legendre being the host reservoir.
MEO has illustrated this on their presentations & for those who came in late, I've posted a lot of research on the Perseus wells b4 Z-1 was spudded. This has been discussed on numerous occasions, might b worthwhile looking at earlier posts for y'r answers.
Sweet Crude, not sure why u'd ask me abt a contact on SV. No I dont.
Having seen plenty of action in the oilpatch, I'd know the progress by reading the updates in the open domain & folks on this thread have shared the Cyclone info & news on Xtract PLC selling shares.
Everyone here has shared something worthwhile & one can form their own opinion there-on. Try telling Clive Palmer this, he must b chewing his cigar furiously tonite onwards (i.e. if he smokes or a pack of Wrigleys will do).
Bert, mate most geo's can b the ultimate optimist or the reverse. One needs to do the research first & interpretations etc from nearby wells & chances are always going 2b between 0 to 100%. Most companies spend millions nowadays on 3D seismic b4 picking a drill location, so yes there is logic involved & everyone has their own opinion.
I would say 50:50, either they find gas or they dont. 5% is out of question. If u are new to the stk mkt, then use the stop loss function as not everyone can b online the whole day.
No discovery is a success till u find it, but u need to know where to look for it first (seismics) & then its a question of how much is there (research) & how do we get it out (develoment).
And most imp. the company has 2b cashed up for this.
cheers
MEO Price at posting:
25.0¢ Sentiment: Buy Disclosure: Held
