catalyst27 Feb 2018 09:37
ECO are not short of those. This current drill of exxon's being another key piece of the jigsaw, ed seismic results showing the first target as a super giant prospect well in excess of 1bn barrels and the other prospects within the license, CPR volumes but more importantly the attributed GCOS based on adjacent well data and a namibian drill campaign to piggy back on and it the worst case of dusters, further seismic control from well data into Eco blocks.
Take Guyana - what a position to be in. drill in 10 months, high quality 3d seismic data thats been interpreted by 4 independent bodies. prospects over 1bn barrels and proven seal, trap, charge, source from super giant fields just a few KM away. 3d seismic control from adjacent proven drills massively derisking the Eco's prospects.. Exxon drill result from closest well due in 2 months. Tullow now working through the PSDM and oil migration model to predict the charging of the target reservoirs. Remember exxon have struck in two totally different types of reservoir.
chance of success could easily reach as high as 40% in the CPR.
in short i see real traction here this year. as a fully cashed up junior in the worlds hottest play people wont be hanging around until qtr 4 to buy in