OTCPK:ATGYF - Post by User
Comment by
Bigbadoilon Apr 12, 2013 12:28pm
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Post# 21247227
RE: RE: RE: drilling time
RE: RE: RE: drilling time I think it is going to be easier for them to find a partner for AEN's acreage no that the big boys are drilling next door. (i.e. Exxon, ENI and Repsol). The AEN play is Jurassic Clastics - submarine fan type plays more typical of the North Sea area. The Large structure that Exxon are drilling is a combination Structural/Stratigraphic trap where a Middle Cretaceous Rudist Bivalve Carbonate platform has developed over a central Rift high.
These type of traps have produced millions of barrels of oil in the Middle East (Abu Dhabi) and host several Giant fields (over a billion barrels). Exxon is very familiar with the play.
Even it is not the same type of play- any discovery will prove an active petroleum system. This has big gas potential and lies off the SW coast of Ireland. AENshould get a bump, just like the Falkland basin players all did after a discovery was made there. This is lot closer to markets however.
The fact that Exxon Mobil are drilling her is very important. This will be a world class discovery if successful. Here's hoping
Maybe AEN have done something right for change..LOL!
Bigbadun'