Jojo,Sorry, I dont buy Padulla being that good, not until...

Jojo,

Sorry, I dont buy Padulla being that good, not until stepouts prove it up - and remember, this is Padulla-2, and Padulla-1 was 300 meters away and got shows, so the structure can't be that big.

The P10 OOIP number for Padulla was 4.98 mmbo. Given 30% recovery, thats a P10 recoverable of call it 1.5 million barrels.

The P50 OOIP was 1.5 mmbo. Given 30% recovery, thats 0.45 mmbo.

Me, I think Tino is being a bad boy in the Dec 19 report, and putting a silent P10 in front of his "recoverable reserves".

It's flowing at 200 bopd. At 300 production days a year thats 60 000 barrels a year, right ? Decline will take that down to 150 in year 2, and so on.

So, without stepouts, it would take more than 20 years to recover.

Lets see what the stepouts show.

Ian Whitchurch