RE: Great Potential Here28 Apr 2021 15:49
You raise a point for me PG,
You say it may take time to reprocess the 3D seismic data from previous seismic studies done on our licence area.
This is true, depending on how much computing power you attach to the program you can get it done quickly.
BUT,
My comprehension is that current 3D data does already exist! Not for the whole of our area but a very important portion of it.
If you look at page 7 in the attached from HFB, you will see a rectangle marked in Red. Kyranis multi-client 3D. This area has been analysed to latest level technology.
https://www.seapex.org/wp-content/uploads/Abstract/SEC%202019%20Abstracts%20-%20Session%204%20-%20East%20Indonesia%20and%20Timor%20Sea.pdf
If you look at the white dotted line, representing the East Timor continental shelf maritime boarder, you will see that part of our CHUDITCH licence has been covered by the, Kyranis multi-client 3D data, which was instigated to understand the main Malita Graben geology.
This is important, so nobody is waiting for modern day standard 3D data as ITs ALREADY DONE.
But only covers part of our licence area, But the most important area as its where the discoveries have already been made.
tHIS IS WHY WE WERE QUICK TO RAISE THE MONEY, BUY MORE OF SUNDAGAS AND PAY FOR ACCESS TO THIS DATA SET.
All IMHO.
Question - how come a small company like BOIL was suddenly able to raise so much cash at short notice and subscribed into by each of the three directors, what information was shown to be able to raise such high amounts of money compared to the original MCAP of £5m.
Something juicy, very juicy is lying in our licence area.
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