Finally dug up the history of those holes drilled by esso in the 1960's and 70's
SO what are the odds .. Perhaps those big share bods of TPT be warry about forcing their own on the board and think realistically if the Galp well flows (or not) first time in about 6 months (if at all). Relying on Cap Juby is still the proverbial low odds for TPT , simply because no good flows have occured in any of the wells close by.
That said however the OIL is obviously scattered throughout numerous HOT spots. The problem is that there have been many more upheavels in this coastal region down the coast of Morocco than many other parts of the world and obviously getting the right spots is a challege to the 10+ companies all trying their luck offshore this year.
Anyway these results below are interesting to think that probably many were drilled with the most unreliable data available at the time about 1970.
So what are the chances? of a nice result at Cap Juby looking at all these previous trys. CAP JUBY 1 went into TRIASSIC in 1984? 4795 metres and Middle Jurassic tested oil at 15 barrels at 10.5 API.
INFO from Tangiers(TPT) May 1st 2011 presentation of data.
JKA Price at posting:
8.3¢ Sentiment: Buy Disclosure: Held