I didn't like the XST consultant's numbers either but my own back of the envelope valuation (with all its' errors) was similar.
Peter's report, with it's 80% success probability for Sidi Daher is equally bullish lol. though the rotary lie detector comment probably didn't impress any of the JV directors lol. Commercial success could mean a profitable minnow or a whale I guess, with revoverable gas (with or without CO2 cut) more likely than a huge oil reservior. Nobody can say until the flow testing is done.
The focus at XST is a Board squabble and the focus everywhere else is on Tunisian politics and associated inflation. The interim government will keep the peace pending the upcoming election and the new elected government will have to further O&G exploration if the country is to balance its' books.
From my uninformed perspective the Sidi Daher play seems to be as good as any I have come across, with multiple potential reserviors and several follow-on targets in the field.
I haven't heard of any delays at all concerning the spud which is expected to happen sometime this month. Yet there is relative silence concerning the play.
cheers
VIL Price at posting:
1.3¢ Sentiment: None Disclosure: Not Held
