ash creek oil cut rises, page-14

from the annual report "...the lower Shannon reservoir was either not produced (16 wells) or it was isolated while still producing at a reasonable oil cut approximately 25%. ...14% recovery factor...the field has never been waterflooded...."
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Based on the 150+ years of oil and gas experience (Andy Rigg, Peter power, Chris Mullen, Bob cook) it actually makes me feel like crying that they were unable to find any oil when 86% of the oil is still in place in the lower Shannon!!! Had they of found that oil back when they first acquired Ash creek we would likely be sitting on millions in Cash with 60mil shares on issue a number of other fields and a shareprice who knows. Peter has been unable to find the 7mmbo 2p at his other company either.

I would definately like to see them target a waterflood of the lower Shannon. Forget chemical flooding at the moment becouse if you cant find the oil theres no point pumping in Chemicals.
Cheers