Some points worth noting for next week (19th onwards):
MAD are expecting results of a 'high impact' drilling to a depth of 6,000 feet at the Blue Ridge prospect. Could have some relevance to TTE, given we may have to go down to this depth eventually, at the AD. MAD apparently had to drill through 500 feet of salt to reach the Vicksburg formation and along the way, have encountered something like 26 oil bearing sections.
Cairo is in chaos and over the weekend, violence had extended to a town right alongside the Suez Canal (report on ABC TV 24 hour news). Eygpt controls the Suez canal where oil tankers pass through into the Mediterrean sea. Check any world map to see the significance.
Oil market nervousness over this conflict between the army and the muslim brotherhood has pushed the Brent Crude oil price to over $110 per barrel (as reported by someone else on here last week - 'bcsiles?). It could easily go higher, if the conflict deepens. Most of the EU oil would pass through the Suez Canal
TTE gets paid for it's AD oil at the BRENT CRUDE Oil Price, less about $5.
With any luck, TTE will have penetrated the cap rock at AD next week and we should have indications of 'oil or no oil'. At worse, they will have learnt a lot about drilling into the cap rock which can be useful for the other drills. Check MAD announcements to see how they learn from each drilling, to help drill the next well.
That's it from me for today.
All of the above is my personal opinion only. DYOR.
GEV Price at posting:
8.0¢ Sentiment: LT Buy Disclosure: Held
