TestingThis is getting really exciting and all the indicators are suggesting that this may be a super find.
with testing imminent and news could be out very early next week.
Two six meter intervals over interpreted fracture zones near the bottom of the logged Abiod reservoir section have been identified for possible flow and testing analysis. The BHN-1 completion protocol will be similar to that successfully employed by the operator of the Sidi el Kilani field twenty-five kilometres to the east of BHN-1. After perforating, an acid wash of the perforations will be carried out followed by an acid squeeze into the formation.
12 meters alone could yield a commercial discovery and then they have 225 meters of the rest of the Aboid with
no water contact. :-))))) to test. Sidi El Kilani 50 million barrels of oil.
Alpha north commented
Why do you like it? The company recently drilled an exploration well in Tunisia, where well completion and testing will occur in November.
“Log data is supportive of the presence of oil,” Palmer said. “We believe the risk/reward is very favourable.”
He noted a successful test would translate to a NAV per share of approximately $1.50 and de-risk other targets on the company’s concession.