...'a squillion barrels'
In a nutshell? I've been saying this for months..and I wait for the first drill update, so that a comparison can be made with GKP drill update in June 2009, the geology seems to be similar with multiple oil seeps, always a sign of high volume oil or gas (or both).
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again...
http://www.ogbus.ru/eng/authors/Etiope/Etiope_1.pdf
http://www.investegate.co.uk/Article.aspx?id=200906240700103846U
{Why is Georgia interesting? Georgia contains two large sedimentary basins capable of hosting
hydrocarbons. These are Kura in the east, which extends from the Caspian Sea to about half way
across Georgia and the Rioni/Black Sea Basin in the west. The basins are bounded to the north by
the mainly carbonate Greater Caucasus Mountains and to the south by the Lesser Caucasus
Mountains. Intense geophysical activity associated with movements in several tectonic plates
starting in the Cretaceous and extending through the Eocene and Pliocene periods generated the
conditions for basin formation, successive rounds of sedimentary deposition and burial and the
structural features for oil and gas migration and trapping. The source rocks for hydrocarbons in the
Kura Basin are typically Oligocene shales. There are numerous oil and gas seeps along the Greater
Caucasus and Achara-Trialet fold zones.
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