Thanks Hardoak for your calculations. I must say I struggled getting to sleep after reading your post last night. I went back to Friday's announcement & looked at the following sentence : The F 30 sand in the SM6#1 BP02 well is 475 feet ( 145 metres ) undip from the oil water contact observed in the nearby Humble SM 6 B3 well ( " Humble B3" ) drilled in 1964. The F 30 sand was not produced in the Humble B3 well. After reading this I found the following link from the Texas State Historical Association http://www.tshaonline.org/handbook/online/articles/doh07. The following excerpts from the article are interesting :
1) On January 1, 1994, Humble field, one of the four early salt dome fields that laid the basis for the Texas oil industry, reported cumulative production of 152,808,092 barrels of oil.
2) Through continued yields from deeper horizons on the flanks, Humble field was still producing as it approached its tenth decade and as its cumulative total neared 153 million barrels of oil by 1994.
I think we maybe onto something pretty big given the comparison to Humble B3 which is part of the Humble Field.
BYE Price at posting:
90.0¢ Sentiment: Buy Disclosure: Held
