guerinsc, if your looking for something positive about the upcoming well,I refer you to the 02/03/11 report.
Note the words" indicate a robust structure"
Caspian Chief Executive Graeme Parsons said West Mailisu #2 has the potential for oil in Eocene age sands and carbonates (Beds III, V & VII) and gas in the Cretaceous and Jurassic age sands. Structurally the feature is defined by a NW-SE trending reverse fault on the northern flank, Mr Parsons said. Seismic sections across the structure indicate a robust closure (see figures 2 and 3).
The prospect could contain oil reserves of up to 9.7mmbbls, with mean potential reserves of 4.5mmbls calculated for the Eocene reservoirs. Gas reserves of 5-10bcf could also be discovered in the Cretaceous or Jurassic reservoirs, Mr Parsons added. If there is gas present maybe we can reinject it to assist in the flow rate of the oil.
Could CIG finaly about to kick some goals?,lets trust so,with a 100 percent equity ,maybe just maybe "were on the road again"
Raider
CIG Price at posting:
12.0¢ Sentiment: None Disclosure: Held