RE: DUMMIESTaxiboy urges 'everyone" to check out the longford corporate presentation and do their "dd", which I think means due diligence; however, in Taxiboy's case clearly he has misread or wants to mislead what is shown in this presentation.
Firstly, do not overlook the boring Slide 2 which is "Cautionary Notes" and says that "certain information ..... may involve substantial known and unknown risks......" Donald Rumsfeld could not have been more clear!
Longford cannot "confirm" that oil is present, in fact their resource assessment describes the resources as both "contingent and prospective"
Slide 9 shows results from the old wells and indeed apart from the main zone in the Jeribe (4880 bopd), they show oil in the Lower Fars at 25 bopd, 21bopd or "shows". Big Deal! Taxiboy also says the company confirms that oil was tested in the Shiranish? I read "possible oil leg", not tested and below the depth drilled by well #9.
As far as the 2000m of oil in the ground, there is nothing whatsoever that suggests an oil column of this magnitude. In fact, due diligence again can be used to check out the full resource report on sedar and see that potential reserve calculations are based on much much thinner (but realistic) net pay thicknesses.
So indeed, do not base any decisions on what I say, but do your own due diligence (and completely ignore what dummies such as taxiboy post!)