RE: Chinese got +100Billion barrels27 Apr 2018 15:13
I bet they have more than 55 identified prospects now the 3D seismic's are being delved into
Located in the west of the country, where there has been very limited exploration, Blocks IV and V offer a relatively low cost, high impact exploration opportunity. The Company has identified 12 prospective basins across its acreage and has sampled very rich lacustrine source rock and high quality reservoirs in surface outcrops on the basin flanks. Core holes drilled into some of the basinal areas have also found source and reservoir along with shows of oil.� Within northern China, close to the Mongolian border there are multiple multi-billion barrel basins that are analogous to the geology in the Company's Blocks and provide an indication of their potential. The Blocks also have an extensive data base of gravity and magnetics surveys including an 11,000km2 full tensor gravity survey, 4,000 km of 2D seismic and 200 km2 of 3D seismic.
The Company has an inventory of 55 prospects and leads and estimate more than two billion barrels of cumulative recoverable resource potential in these features.