An excellent poster called GeoChem has put a lengthy technical discussion on the LSE forum. http://www.lse.co.uk/member-info.asp?page=1&nick=GeoChem
Most detailed I have seen, and he has 30 years of experience in oil & gas exploration and production. My understanding (and I advise you to read it yourself) is that they probably have an oil/water emulsion and it is simply not possible to tell if it is exploitable in this location without more testing and analysis.
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