CortIm going out on a limb here - but will make a call that...

Cort

Im going out on a limb here - but will make a call that Beibu 12s contains 200mmbo in all structures. Although only one has been assessed. You need to take the wireline and x 2 I believe. But I stress this is pulling a figure from the air so to speak.

As for valuation. The nearby producing field had a well that producted at some 36,000 barrells a day. All indicators this one will spew the black stuff out. The faster it flows, the quicker the payback the higher insitu value. If give a USD 10 per barrel valuation then this find is worth just over $2 per share. I think this is conservative valuation and 1$ of this has already been factored in sp when it moved to $4.

As for Angola - target estimate is 1 billion barrels. Upperstructure is 250m barrels lower sub salt 750m barrels. The lower sub salt structure is the same field that Chevron have tapped into offshore. The geology extends from offshore to onshore over a distance of 60kms. Onshore Drilling 30yrs ago never went far enough to hit targets but apparently as far is it went, it marries up with Chevron offshore strata data indicating that lower structures are the same.

Watch ROC closely over coming months as magnetic and seismic data is being interpreted as we speak. I firmly believe it will show targets. But watch sp price and volume for confirmation as info trickles out.

If estimates are true the prospect would be worth about $7 a share.

Thats all for now. Still piecing together more information.