EMP 0.00% 2.1¢ emperor energy limited

Ann: Derby Block (EP 487) Update, page-29

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  1. 2,429 Posts.
    lightbulb Created with Sketch. 27
    I get where you're saying a second drill now though, the Backreef area. The "10mmbbl" (it's actually ~18mmbbl) there is spread across multiple very small high risk prospects so you'd need 5 drills to access it and you'd need someone to farm in to drill for tiny mmbbl targets some not even more than a couple of hundred thousand barrels, or the couple of high risk (4% chance of success!) stratigraphic traps that are 5mmbbl and 8mmbbl. I really don't see how someone is going to farm into a 4% chance of success prospect when the two OBL drills (8% and 12%) were dusters.
    It's possible someone might farm into Backreef Deep I suppose, but it's been two years now trying to find someone for that.

    At any rate that doesn't change the fact Spec is obviously talking about Derby and mucking around for conventional oil around Backreef is unlikely to happen let alone be successful.
    Last edited by bhutos: 21/11/14
 
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