TSXV:ART.H - Post by User
Post by
goldtoeon Dec 06, 2009 12:17pm
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Post# 16558494
oil guestimate
oil guestimate
The independant evaluation on black mountain reserves should IMHO indicate atleast 1 billion barrels on the low side.. very conservative and about 4 billion on the high side.. also could be considered conservative.. considering HOC's wells nearby to black mountain.
It's my understanding that they will drill smack dab into the highest dome on the block and they think they will encounter 8 oil bearing formations.. the first at quite shallow depths! This is a massive target down to 4,000 meters. They have an option to drill an additional 2 or 3 wells with this rig as far as i understand.. if the first hole is a big success we should see them continue on with another well or two.
I hope they are prefabbing some straight lengths of pipe somewhere as they surely will need it.. lol.. there's no doubt that HOC and other operators in the area would share the costs of a pipeline so it wouldn't be a huge expense for any one company. I think a preliminary announcement of a joint-venture pipeline would help bring some added confidence to Vast and other plays in the area. I think the chances of success warrant looking ahead to a pipeline....