see wpl webcast - confidence building

All
I have just finished listening/watching the relevant parts of the WPL webcast presentation from yesterday. Anyone who is serious about research of the Mauritania story should listen. It was refreshing and, contrary to my expectation, the outlook was reasonably upbeat.

While there was no mention of Tiof in the sections I listened to, the comments about Labiedna were very positive...It seems it was in fact crest drilled on a salt daipir and that the intersection of hydrocarbon charge in thin sands is not the end of the prospectivity of the field. Comment was that they woudl explore further (sounds like another well) to establish where the HC charge was greatest to test commerciality. The latter word was not used but it was clear that it is not the end of the Labiedna story.

In addition the comments about Tevet Deep and cretaceous plays were encouraging. The Colin and Colin Deep prospect is a proven play type and will test the extent of both Miocene and Cretaceous development in that location...they sounded quite optimistic about it.

Sotto was stated to have been a high risk high reward play that was unsuccessful. Espadon, was conventional and I forget what was said about the reason it was unsuccessful.

Upcoming well Zoule is stated to be a new play type given its remoteness from the existing known geology. It was said to be around a 100m bbl target. All new targets in the upcoming year are said to be in the shallower waters of 250-350m deep rather than the very deep. That to me confirms that the findings of Merou, Capitaine and Espadon have probably enabled the exclusion of those deeper waters from near future exploration.

There were no comments on the gas negotiations on the parts I heard. Anyway, I commend the webcast to those interested and I now have a more positive view about Labiedna and WPL's preparedness to be generally positive about Mauritania.

regards
DF