from todays conference call (may be on web-site later?):
Angus McCoss says:
- instability issues means they are now drilling a new sidetrack - results expected in a couple of weeks
- pre-drill views on target size unchanged - 600mb P10, 200mb P50
- predrill were saying 30% CoS - that has now "probably doubled"
:)
db
- pre-drill views on target size unchanged - 600mb P10, 200mb P50
Just for clarification, db, do these figures from Tullow refer to OOIP or estimated recoverables?
ee
Another discovery!! http://www.investegate.co.uk/Article.aspx?id=200909170700041925Z
the Ngassa-2 exploration well, which is located in the Kaiso-Tonya region of Block 2, has encountered 7 metres of oil pay in a 14 metre gross sand. Pressure data acquired through logging operations indicates the potential for a significant oil column down-dip, which could fill the entire 150 sq km closure. Although evaluation is still at an early stage, with further appraisal drilling, Ngassa has the potential to be the largest oil field in the basin to date.
.....I'm rather hoping they stay on the roll for the rest of the year! ;-)
ee
EDIT..ps....perhaps its me, but when the company says "Although evaluation is still at an early stage, with further appraisal drilling, Ngassa has the potential to be the largest oil field in the basin to date" I rather get the impression that they are looking to talk up the value of their assets and ensure that everything is out on the table......
....perhaps there is something in the idea that ENI are looking at a bid - at least for the Ugandan operations?
I'm rather hoping they stay on the roll for the rest of the year
and through 2010!
any particular reason why you have joined the Tullow suporters club (motto "yes! It's another discovery!"), ee?
db
