Does Bernstein know something we don’t30 Sep 2020 10:08
Moreover, the zone now believed to contain residual oil below the oil water contact is very thick, whereas we would have expected an abrupt change in oil saturation at the free water level’. The Fund therefore ‘believes that significant volumes of oil may be present below the revised oil water contact at 1,330 metres.’ Richard Bernstein believes the “Doom scenario” is over done and recoverable reserves are worth far more than the current market cap.
So, he’s saying the water is perched, when the technical review says otherwise.
Does Bernstein know Dr Robert Trice I wonder and has been persuaded the technical review is wrong?
Crucially, Sheila quoted “ need to keep an eye on the pressure trend” as the rate of decline was flattening off.
Quoted that as production took place, “other zones” started contributing and supported pressure.
I wonder if the sands at the toe of the 6 well are beginning to flood into Lancaster. She certainly seemed to indicate that during the Q and A
BP’s Clair field was mentioned to have similar trend analysis. It is a behemoth of a field.
Things looking up for Hurricane I think.