Let us remind ourselves what we can expect from Georgia. The...

Let us remind ourselves what we can expect from Georgia. The drill should be 30% complete, ie approx 1200m-1400m! Some analysis will most certainly have already been undertaken maybe enough for RNS release, soon and possibly within 48hrs. Don't get to concerned yet, there is a long way to drill.

{.....what we can expect from Georgia. I cannot make up my mind whether to expect more from Georgia or Trinidad, either way I am sure we are in for the ride of the decade...?
http://www.rangeresources.com.au/fileadmin/user_upload/Presentations/4th_March_Web_version.pdf

Georgia: Blocks VIA &VIB
Established in Georgia
July 2009: Heads of Agreement with UK company Strait Oil & Gas Ltd to acquire 50%
interest in two oil & gas blocks in the central portion of the Republic of Georgia.
? Range completed Phase II with 410km of 2D
seismic in March 2010 to earn 50% interest
? PSA is initially 50:50 production split (no taxes or
royalty) through the cost recovery period after
which it reverts to 65:35
? Seismic data processed and interpreted Q4 2010
? Geochemical helium survey across three targets
with two of the targets showing positive helium
anomalies congruent to the presence of
hydrocarbons ? Feb 2011
? Farmed out 10% interest in both blocks to ASX
listed Red Emperor Resources (ASX:RMP) on a
2:1 promote basis
? Drilling rig secured, targeted spudding April 20119
Georgia: Seismic processing / interpretation
? Total of 68 fold structures
identified that could be
viable prospects for drilling
? Total estimated Oil-in-Place
across these 68 structures:
2,045 million barrels of
oil
? Estimated (conservative)
recovery factor of 30%
resulting in estimated
Recoverable Oil:
613 million barrels of oil
Source: RPS Energy10
Georgia: Prioritised 6 ready to drill prospects
Prospect Oil-in-Place
Kursebi 1 123 mmbbl
Kursebi 2 160 mmbbl
Kursebi 3 42 mmbbl
Vani 1 171 mmbbl
Vani 2 89 mmbbl
Vani 3 145 mmbbl
Total 728 mmbbl
Source: RPS Energy11
Georgia: Geochemical Helium Survey
? Surface geochemical helium survey
performed across three identified prospects
? Mukhiani
? Kursebi
? Sachkhere
? Identified positive helium anomalies on two
of the three prospects congruent to
potentially productive hydrocarbon systems
? Helium results overlain on the existing
seismic structure maps with the location of
the first well having been determined.}

http://www.rangeresources.com.au/operations/georgia/