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The 91.8 square kilometres (35.5 square miles) PEDL143 licence is located to the immediate west of the Horse Hill-1 oil field, where 9,245 million barrels of oil in just 55 square miles were discovered in the Horse Hill licences (PEDL137 and PEDL246).
You invest in these types of ultra high risk stocks because you believe you can make a 1000% return on your investment . This is AIM not the FTSE 100 once you have pressed that buy button you stand a good chance of losing your money.
Could get some news from the board.
Following successful reperforating and extensive swab testing at Pinarova-1 by operator Aladdin Middle East.
Preliminary analysis of all data indicates that the source of these shallow light oils is most likely from spill or seepage from an underlying deeper light oil pool in the Kezer-Pinarova area. We will continue to investigate the commercial potential of both these future targets.
The testing operations involved successfully detonating 7-inch perforating guns at 12 shots per foot over a 40 ft section of Germik/Hoya sequence.
Costs for the operations were kept to a minimum throughout.
We will continue to analyse all data and explore both the potential updip shallow Germik/Hoya accumulation and the likely more significant deeper pool objective.
Operator Aladdin's cooperation, costs were fortunately kept to a minimum and it adds to our bank of data about the Resan licence for the future."