psi .. 2 questions

Dear PSI.

First I must thank you for your insight on this board, it has been enlightening and very useful.

The only consolation we have so far in Tunisia is we have proven oil, with potential reserves of 100m barrels. Including the seismic costs, the work so far has cost c$100m (including this well), or potentially $1 per barrel, which is very cheap.

Would Dragon pay Cooper $2 per 2C barrel = 100m x $2 x 30% = $60m, I think this is a real possibility … and thus for Jacka $30m.
The disappointment with this well; if it was more of a success the price would be a lot more, $5 to $10 per barrel.


However on Scots Spenser’s interview he mentions 2 items

1/ the reservoir was encountered c 40m higher than predicted ... which he says is a good thing (?). I would have thought that was incompetence by not being more careful when drilling. I suppose he is implying that the reservoir is 40m taller than estimated … which is not necessarily true.


2/. Most NB. He also mentions suspending the well and coming back to use Managed High Pressure techniques… thus implying they can re-entering the existing well (say next year). Do you think this is possible … or will they have to drill a new well (I would have thought the latter)?



Many thanks