Little Green CirclesTaxiboy is an IDIOT!
Slide 11 of the corporate presentation shows the Kurdistan geological formations and indicates which formations are potential reservoirs (little green or red circles), seals or source rock throughout Kurdistan.
This is so basic that to claim that all these formations contain oil or gas at Chia Surkh is so ludicrous that is must be an obvious attempt to mislead.
Compare this slide to the slide showing the depths of the 9 wells at Chia Surkh. How can there be a known oil reservoir below the deepest well?? Perhaps more messages from the other side!
What the well records indicate is some small tests in the Lower Fars (perhaps adjacent to something better?), a good test in the Jeribe (but is this a stabilized rate?) and a gas test in the Shiranish (is this possibly a gas cap above an undrilled oil zone?) Questions to be answered by drilling an exploration well.
The most likely scenario for the soon-to-be drilled (?) well is a good test in the Jeribe and more marginal production from the Lower Fars. The well will not penetrate the Shiranish, so a possible oil leg will remain unknown for the time being.
Remember that it was reported that Anglo Persia walked away because they thought the accumulation was too small. So although we might get encouragement from the well, I think several more wells will be required to confidently predict a size large enough to develop. A prolonged production test is planned for the first well and those results will also confirm stabilized production rates if the well is successful.
Right now, lets hope that these deadbeats can drill the well to the projected total depth. Another known unknown.