re: oil strike!! ICN have reached first objective and the way yesterday's announcement reads there is oil in VP#1 and the quality is good. They still have to drill other objectives through to total depth of 9100.
I think the issue now is how much oil there is down there. From memory HZN quoted around 1.8 million barrels in an earlier announcement? Price of oil at present is very good. Does anyone know or recall what the infrastructure around the Bayou region is like that is, will they be able to move the oil to refineries???
ICN price starting to drift upwards. Next week will be very telling as other objectives reached and results of analysis come throough. Fingers crossed it'll be good.
Cheers Pol.
re: oil strike!! ICN have reached first objective and the way...
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