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Gold/Mining/Energy : Red Sea Oil Corporation (RSO)
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To: Donald Lickman who wrote (119)2/12/1998 9:47:00 PM
From: Tomas  Read Replies (1) of 332
 
Donald: "Is 100 MMBO a reliable number?"

Straight from the horse's mouth! "We have more than 100 million barrels of oil in En Naga North", and that is a conservative estimation. 150 MMBO is a more likely number, and the upside is 200+. They have contracted an independent company to find out the size of the oil reserves, and they will announce their results in March. But we can not be sure exactly what they will be able to tell us then, more wells = more accuracy. The reserve figures are not going to disappoint anyone.
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