RE:RE:RE:RE:RE:RE:RE:Re share priceSorry soulfire but that is wrong. Black oil is NOT heavy oil. Read this:
reservoirs are classified according to their fluid type. There are three broad oil classes. In order of increasing molecular weight, they are volatile oil, black oil, and heavy oil. Heavy-oil reservoirs are of minor interest during pressure depletion because they typically yield only marginal amounts of oil because of their low dissolved-gas contents and high fluid viscosities. The distinguishing characteristic between volatile and black oils is the stock-tank-oil content of their equilibrium gases. Equilibrium gases liberated from volatile oils contain appreciable stock-tank or condensable liquids whereas the gases from black oils contain negligible stock-tank liquids. While this distinction leads to only slightly different recovery strategies, it leads to very different methods of analysis and mathematical modeling requirements. Oil fluid characteristics - PetroWiki
This tells us that "black oil" is actually the oil we want to find as it is between heavy oil and volatile oil. I assume that the volatile oil is more like the condenstate but not sure. In any event, it seems black oil is NOT heavy oil and is thus a good thing which is great for us.
Why did Apache not rise? Well, this is their FOURTH find and not their first. So it is not like it is a company maker at this point. It is like padding your stats by scoring an empty net goal. It looks good on paper but no one really gets excited about. But, at the end of the season, they just add them all together. So when Apache starts producing, then the value will come through.
For us, our first hit will be a company maker. That is a given. Where we will go if that happens, we don't know.