RE: Here is The reason MM resigned Wingat and the next two prospects, Murombe and Moosehead, are being drilled with Lisbon-based Galp, which owns 14 percent of the blocks where the prospects are located. Those three blocks, plus a fourth, Meerkat, where HRT is looking for partners, may hold about 10 billion barrels of oil, he said. That’s enough to supply all U.S. needs for a year and a half, according to BP Plc. According to data from U.S.-based oil resource certification company Degolyer and MacNaughton that was supplied by HRT, there is a 24.1 percent chance, on average, of finding the following volumes in the four blocks: 1.3 billion barrels in Wingat, 4.3 billion barrels in Murombe, 3.2 billion barrels in Moosehead and 1.3 billion barrels in Meerkat.
“The geology is beautiful. If we don’t find oil in the first well, the next three present larger potential volumes and high chances of success,” Mello said. “Four prospects, each with about a 25 percent chance of success means our chances are very good.”
“If we find oil in any of these prospects, the shares could easily go back to the 40 reais per share level,” he added.
Next week isn't D-day at all even if Wingat-1 fails.