Ashanti Gold Corp. GULSF

RE: Reservoir size

[snafur]

Exploration wells are usually abandoned. This one just tested the oil column in the forties to prove the reservoir model they made from the previous fallow discovery at the edge of the formation and additional seismic work. If you read the news release again carefully, you will probably notice that this was planned from the start. Further appraisal drilling (maybe one more well with possible sidetracks to delinate the field) would have been needed before any development plan for Maria. The final producing well(s) will be very likely horizontal wells to optimize production. You don't produce from new vertical wells these days in the NS anymore. Especially not from defect ones.