Excellent announcement released last night regarding the Mulle field.
EXR's share of 7 Million Barrels of oil is very significant.
In 2 Years this could equate to 4000+ Barrels a day production worth $500,000 a day.
This is a very significant announcement.
EXR should have around $1 Billion worth of recoverable oil.
They still have to drill the hole, but it is an appraisal well and as such should have an 80% chance of success.
Lets see how the market responds today.
up 17pc in london on north sea appraisal well
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