The Tullow well is about 130-140km Sth, as the crow flies, of GBP's Iti-1, as siriusco mentioned. 'Failed' trap means that although there was a structural trap present and thick reservoir it contained no commercial oil, only water. Most likely that around this location it had either once contained oil which has subsequently escaped, or trapping structure formed too recently to fill with oil, or that it didn't have adequate seal across the fault against the neighbouring fault block. A sober reminder that the best laid plans can still come up with a dud!
GBP Price at posting:
26.0¢ Sentiment: Hold Disclosure: Held
