No guarantee of success (1 in 3 chance has been mentioned) but potentially huge target. 6 target zones - should be plenty of action in the next few weeks imho. DYOR !!!!!
"The key attributes of the Sidi Dhaher prospect are:
- Potential for over 300 million barrels of recoverable prospective oil resource in just two primary reservoir zones, with a chance of geologic success independently estimated at 30%.
- The well is anticipated to intersect 4 additional prospective, secondary reservoir zones which provide upside potential.
- All of the primary and secondary reservoir zones produce oil and gas from fields within 50 kilometres of Sidi Dhaher.
- The prospectivity of Sidi Dhaher is supported by the presence of coincident hydrocarbon indicator anomalies, namely:
* Seismic Flat Spots, on all 2D seismic lines crossing the crest of the prospect at the shallowest reservoir level. These flat spots are interpreted to be potential Direct Hydrocarbon Indicators(DHI) and are often the seismic expression of the interface between hydrocarbons and
underlying water zones in good reservoir rocks; and
* Surface Petroleum Geochemical "Microseepage" Anomalies across the prospect area. Such anomalies are often present above oil and gas accumulations.
- Resource estimates are based on mapping by Isis Petroleum Consultants, the independent expert who completed the geological report for the XState Prospectus dated 26 May 2010.
- The estimated cost to drill the well is approximately $6 million and the well is planned to take around 30 days to drill to a planned total depth of 2,150 metres.
- If the well proves successful it can be flow tested with a view to early development and production from the field."
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