who dumped today?, page-19

re: grahamc58: who dumped today? - seller G'day sailorgirl,

I think the one of the main reasons they drilled Banda last year (apart from size) was because it seemed likely that it was on the same migration path as Chinguetti and hence along with structural-closure POS was quite high, as it turns out history completes the story! This year the story is just as interesting since they are again drilling two targets in close proximity (tie-back range) to Chinguetti again targeting the miocene sand layer migration path.. with successes at Chinguetti and Banda POS goes up since the migration-path variable at can be set close to 1 (if not to 1) and hence increases the overall POS... Main risk will be structural closure and with the limited information on hand its hard to place a figure on chances here, although with 3D seismic it greatly reduces the chances that closure isn't present.

One must also remember that appraisal drilling at Chinguetti confirmed that it is full to "spill-point".. and the question begs to be asked, where is the rest of the oil? If I was a punting man I would have to say Tevet is a good first guess?

It will be good to get some firm news in the next month or so since HDR have been uncharacteristically quiet of late and have many issue outstanding and actually overdure based on previous comments given.