Hi All One for the true oilers and geos among us (you know who...

Hi All

One for the true oilers and geos among us (you know who you are).

Where did the oil go?

At one stage FAR talked about A2 and A5 being closer to the source of the 'old' River Gambia, containing thicker sands that were likely to hold bigger quantities of oil. Cath spoke a lot about drilling 'the same reservoirs into which we have drilled 11 successful wells'. Little wonder, then, we were all so confident - and some of us cocky - about finding the big elephant in Samo. The rest, as they say in the classics, is history.

So if the oil did result from deposits from the river - and let's face it, where else could it have originated? - then why no oil in Samo?

We are acting on very limited information, but it seems Samo contained oil shows and was therefore not a duster in the truest sense. Has the oil migrated north, into SNE and beyond? We know it has migrated from the FANS and up on to the shelf: How else has it shifted over the past couple of hundred million years? Has it left Gambia for greener pastures? Are A2 and A5 likely to be worth having?

These are probably stupid questions. Am I being too literal? Is this how oil geology works?

I guess they are questions born of frustration. We had such high hopes, only to have them dashed and the grim reality of the seven-cent grind re-establish itself. It has been very deflating.

Note I have changed my sentiment to None. As I am neither a buyer nor a seller, I can hardly counsel others. My super broker asked me if I wanted out from that holding. I said no because to my mind the fundamentals of SNE are compelling and FAR does still have a couple of exploration irons in the fire. So I hold ... but each to their own.

OOO