OTCPK:ATGYF - Post by User
Comment by
Bigbadoilon Aug 12, 2013 10:56am
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Post# 21663541
RE:aen from oil rig
RE:aen from oil rig
Even though this well was a D+A, it has important implications for AEN's lands and prospect.
AEN's play is a different type, being a clastic submarine fan deposited on the shlef margin of the Porcupine Basin. The Dunquin well was a carbonate buildup prospect located in the central part opf the basin.
Kosmos has farmed into AEN's prospect as they see it as an analog to the submarine fan systems on the West Coast of Africa. They are partners in the 2 billion bbls OIP Jubilee field in Ghana.
The Dunquin well ahd a thick residual oil saturation at the top of the reservoir, indicating an active petroleum system in the Porcupine basin. As this is a frontier basin, I consider this very bullish for AEN's prospect.
AEN ' SP is so low right now but If you can put this one away and forget aboit it- it might surprise in the future..
We shall see..
The fan complex is huge 400km2- if only a small portion of this has oil,it will be a huge oil pool.
Bigbadun'