News: Gas2Grid confirms commercial oil flow from Philippines well, page-12

I though you might ask that.

as quoted;;
Best Estimate Contingent Resource of 20.4 million barrels of oil in-place.
minimum 500 metre vertical oil accumulation/
when the new well is smack in the middle of the field the above figures will treble (imo)
there's a max estimated of 68.1 million barrels
so 60million is id be thinking.

Dennis Morton (Managing Director) commented:
“The Company has proved that the two targeted sandstones are oil saturated with commercial potential but affected by down-hole mechanical issues. These two oil sandstones have 21.4 million barrels of Best Estimate (2C) Likely Contingent Resource of Oil in Place (Low Estimate 6.8 and High Estimate 68.1 million barrels)*. This is a resource well worth pursuing.
We are working in a well that was drilled and cased over 50 years ago and that in itself limits our current options.

we would settle for $3 but more like $5 if im in the ball park/

GLTA