"The Padulla discovery of more then 1 mmbo recoverable has given much needed replacement of reserves and probably more will follow."
Stuart's news release of 7 Nov 2005 stated that Padulla was 850 000 barrels of Original Oil in Place at P50, and estimated 30-40% recovery. This turns into about 250 000 barrels recoverable ... worth having, but a long way from your number.
Yes, the Chairmans report says that he is "hopeful" of increasing it ... but lets see what the stepouts come up with.
Ian Whitchurch
STU Price at posting:
0.0¢ Sentiment: Hold Disclosure: Not Held
