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Agadem
From 109 discoveries, Oil pay was found in -
Upper Sokor = 6.
Sokor Alternances - 103.
Madama 1.
Yogou 14.
Donga 1 (deepest).
1 pinch out stratigraphic oil discovery in trapping shales.
Bushiya targets primary Sokor Alts. Secondary Upper Sokor . (S.A discovery)
Amdigh, Kunama, Eridal, Zomo ditto re targets/discoveries.
From memory and without re-reading the CPR i think it was expected that these were the only viable targets in those wells at anticpated drilling depths at the time. It's possible that the lower yogou (not upper) overlapped as potential Upper Sokor potentail ie secondary target as these are in very close proximity in some of the wells.
What's most interesting is from 3 of the discoveries they said this in October last year "PSDM is also anticipated to significantly enhance the 3D imaging of the as yet un-drilled deeper Cretaceous aged Yogou and Donga exploration targets identified on the existing data set (including potentially significant structures underlying Savanah Niger's Amdigh, Bushiya and Eridal discoveries)." So they definitely didn't drill into all potential targets.
The Yogou is the 2nd biggest in terms of the number of discoveries but it too is only lightly touched to date in the basin.
So additional targets yet to reach as well as potentially 'significant' deeper structures still to drill below the existing discoveries.
Thanks to Trek's logic (which makes perfect sense), I've had another 50k (shares) @ 9.72p. Obviously wish I'd bought more at the recent low of 12p but more confident buying more now that MC has been granted. Onwards & upwards!
typo, 19.72 - I wish I had got them at 9.72!....;)
Should add that from memory the Chinese were concentrating on the Sokor Alterances because well drilling was an average of 3 weeks and around $3.5m/well.
I think it was 2017 news began to filter out more about the deeper potential and I can remember specifically a broker reporting from an African press article about 2 deeper discoveries made by the chinese with around a couple of hundred million bls.
Me too. Those discoveries are in the sweetest spot (100% success rate compared to the Chinese at circa 93%).
With the sheer amount of oil generated from the source kitchen and expelled throughout the basin imo it bodes well for deeper discoveries also.
Savp still want to remain operator one of the reasons they are not at the mercy of someone elses timetable.
Jammy buggers who bought at circa 12p. Unfortunately I was in too early!
Wake me up at 29p.
Added another 50k here taking me well over 300k in shares now for the long term . Still well under deal placing @35p and more than enough headroom for the very recent 28p cash raise.
Anybody buying at these levels is head and shoulders better off than some decent institutional investors