RE:Stupid question I believe this is where the seismic surveys come in. We may have discovered an active petroleum system and it's possible we drilled into a trap and have brought oil to surface but even if no oil to surface yet finding the system is key. Now finding a trap and bring oil to surface is the next step. I believe we have seismic in country don't we or did they say they would complete 3 exploratory holes first and then consider seismic ? Can't remember now but I'll look.
Buyhigheatchips wrote: Here's a question:
If by June or whatever we have a report that we indeed are sitting on an active petroleum system where does that put the chances of finding oil? The report will play a big part in where to to drill but then is it just a matter of holes drilled? I guess at that point there will be a willingness to spend a lot of money exploring.
And will we do some exploring ourselves but also farm some out?