WISR Ltd V.WZR

Resource Estimate

[muley1]

Good to see the Resource Estimate come out. Lots of meat in that report as it outlines what they believe the probable reserves are in each well and how they made that determination. This estimate is more accurate than one based on 2-D seismic alone as they are using information derived from wire logs, test information, core and mud information as well as nearby offset wells. You can know see why they were so determined to stay on the K-1 well and why Talisman is drilling as close as they can to that structure. The resource estimate for the 3 target zones under K-1 is 498 Million barrels of oil along with a Trillion cubic feet of gas. This is a major find in anybodies books. Of course they need to successfully drill this zone to test the resource to move the resource estimate from probable to proven. Note as well on the Sarquala that the best estimate is a reserve of 66 Million Barrels with a high estimate of 250 million barrels. This should be an interesting few weeks as this plays out!
Muley