Sunbeam 1, next door, has finally spudded yesterday, current depth 250 m . Expected to take 16 days.
IMO, preliminary results should be available BEFORE we get the SAT decision.
Buru said: The presence of reservoir sands, and oil migration into this part of the geological section has been proven in the surrounding wells. The principal risks for the prospect are trap integrity. The trap is interpreted to be essentially stratigraphic with well developed channel sands enclosed by siltstones.
Prospective Resources
Preliminary and illustrative probabilistic volumetric estimates of the Prospective Resources for the Sunbeam Grant Formation prospect are as follows. Buru has a 100% beneficial interest in the Prospective Recoverable Resources (unrisked) of the Sunbeam prospect.
Grant Formation Prospective Recoverable Resources (million barrels of oil):
Best Estimate: 14.7, Low: 2.6, High: 35.8
Part of the commentary:
“The prospect has excellent upside and could be easily developed given the existing infrastructure in the area.”
OBL Price at posting:
0.6¢ Sentiment: Buy Disclosure: Held
