"On this basis, Sound Oil drilled a successful appraisal well at Nervesa in 2013, the Sant Andrea, testing gas at a rate of 2.7mmscf/d, supporting the company’s theory. The higher than expected output from Sant Andrea allowed a positive revision of the reservoir model for Nervesa, resulting in a 16% increase in the P50 estimate of reserves, from 20.7bcf to 24bcf. Second appraisal well at Nervesa, spud expected Q314 Given the success of the Sant Andrea well, the company now plans to drill the second well of its three-well Nervesa development programme in the second half of 2014. As shown in Exhibit 6, the Sant Andrea well successfully proved-up the northern part of the Nervesa field, while the second appraisal well will target the southern limb, which is thought to contain the bulk of resources to be developed. (Edison report)"
We all know to take with a pinch of salt. The vast majority on this board know how to process info for themselves. I just put things like this on to show what is out there. I don't hang onto bmd every word. But I do know he has influence over quite a few, so I believe it is relevant. But really just post for interest if quiet. Thanks for the caveat though. Cheers, Joe.
The writer states he owns shares in one or two of the shares mentioned so as PNE says take with a pinch on salt and a crazy range of price predictions.........I'm not currently holding SOU but may buy although looks fixed in this price range until major news increases NAV significantly.
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