Another point I wanted to bring up regarding VOBM#1 & West Double A Wells was this
The CAIN, BEN B.-CARTER, W. T. No1 well was drilled in 1985 (not long after the Double A Wells field was initially discovered [1984]). It is located just 950 meters from VOBM#1's bottom hole location. It turned out to be a poor Woodbine producer and didn't even produce 90,000 boe.
These targets are actually very small in aerial extent, Double A Wells only covers something like 4,000 acres, yet produced over 80 Million boe (small but prolific). The secret is finding the core.
These fields are located in Canyon's, Gorges, Valley's call them what you like (effectively tiny mini basins).
VOBM#1 I'm almost certain, will not have been drilled on the outer edge of the mini basin, its much more likely to be near what they believed to have been the deepest point within it.
I'm not sure any investors have actually seen in slides or on maps just how Vision or PANR interpret this physical mini basin's structure (ie the outline of it placed over the appropriate leases). Is it circular, oval, banana, river or half-moon like in shape? we just don't know.
It could easily turn out that, the 1985 well was just the length of 2 or 3 football pitches from discovering an 80+ MMboe oil & gas field. Instead it penetrated a ridge right on its very edge, lost money & left an overall Billion Dollar plus Jackpot undiscovered until now.
LOTM
AXT Price at posting:
6.0¢ Sentiment: Buy Disclosure: Held