RE: Zaedyus: Old news, but still a good read When Repsol and Tullow say that Jaguar looks good and then say the following about Zaedyus, connecting the dots here is that they are probably seeing very similar things at Jaguar then they did at Zaedyus. They probably have hit higher targets similar to Zaedyus. My original thought was to sell 70% of my position for a profit and leave 30% ride for results leaving me with very little risk. However, the more I read and understand here and the action on the share price, I believe it is worth the risk to let more ride till the end. There just seems to be too many good things pointing to a discovery here.
Seismic Attributes?
Well came in bang on prognosis as we were drilling. The well result matched seismic very well. We now have enhanced confidence about our interpretation (of the half-a-dozen or so) undrilled equivalents in the 3D Seismic Survey.
Bright Amplitude Events at a similar Horizon?
Yes. But it’s a bit more than just the amplitude. We can see the Geophysical Signature of what we’ve just penetrated in numerous other bodies and overall these bodies make geophysical sense as they have the geometries and characteristics of Turbidite Fans, which we just demonstrated and tested with remarkable accuracy. Actually Zaedyus was bang on. We are quite confident about the undrilled fans but of course they need to be drilled. These other prospects don’t look any different to the Zaedyus fan.
Without a (previous) well, the well matched our seismic analysis very well. Now we have a well (in the basin), we can calibrate, fine tune it and re-rank. We also expect to illuminate some other opportunities as we have more accuracy on the calibration. All looking pretty good.
The well logs matched depths very accurately all the way down. We have drilled 30 wells in this play, have 1st mover advantage. Lots of experience. It looked like very familiar Equatorial Atlantic geology.