this might be a question better answered by a geophysicist. but here's my 2 cents.
based on the drilling done so far we have a reasonable understanding of the geology and the capacity of certain stratas to contain commercial hydrocarbons. there is a good chance that Apus being so close has had its chances increased marginally due to geology.
ultimately the question is does it contain oil or some other substance. last time I spoke to a knowledgeable person on this (probs 5 years back) there were still blind spots.
3D seismic has considerably reduced the risk and we have extensive 3D through out the JV average.
never any guarantees but it would appear more likely than not.
pure speculation but Apus could be as much as equal to current 2c reserves (according to AGM presso). unlikely that a single well would provide a complete picture though.
CVN Price at posting:
31.5¢ Sentiment: Buy Disclosure: Held
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