RE:One more question for TurntotherightSo the characteristics of a particular formation can change over large areas, but generally they are relatively consistent (i.e a shale is a shale and doesn't magically become a sand stone, although certain characteristics of a shale may change slightly, like porosity or permeability, but likely not materially). However what can change over a drastically short distance/area is the depth at which a formation is at. Faults (and uplifts? Help me out here geos) can cause the same formation to be at very different depths over small distances, and can produce areas where formations generally not commercially viable can be produced. So don't rule out a complete bust if the 2 wells are dusters (but it wouldn't look too good). But until results are released, I would assume everything is normal. Also, if the cores and logs were complete garbage I don't know why RECO would spend on seismic. We don't know anything though until we hear about core and log analysis, and then the seismic to further tie in the findings.
If you want to know just how chaotic faults can make things, go look into the "Devils's cigarette lighter", faults in the area essentially caused a formation to come in much higher than anticipated and produced one heck of a booming well.