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Gold/Mining/Energy : Sodra Petroleum
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To: Greywolf who wrote ()10/2/1998 11:12:00 AM
From: Greywolf  Read Replies (1) of 133
 
A short situation report,

from the extra general meeting held on the 2/10/98 in Stockholm.

I have translated a post by Tomas

We are about 16 to 17 day's away from the target depth and about 10 back from the interesting levels in the structure. The reason why this structure is the one being drilled is that it is the one with highest probability of a find. The projected size of this structure based on seismic is about 120 million barrels. There are also strong similarity's with the Brae structure in the North Sea and that structure when drilled contained about twice the expected reserves. If the Brae similarity goes as far as this Sodra's drill could if succesful yield upwards of 300 million barrels.

The target depth of Sodra's drill is the same as SHELL's yet the level at which SHELL found gas is shallower in this part of the structure. The sandstone level in which SHELL found gas is less developed for more extensive gas find. Sodra's drill is further to the south and closer to Falklands ie the structure is higher up. This should according to experts mean that the sandstone is far more developed and therefore better qualified to contain oil.

Sodra has a four man team on site at the Falklands office and a few more on the Borgny Dolphin itself. An interesting fact is that British institutions are buying Sodra shares over the Stockholm market as opposed to London where most of the trade is done by private individuals.
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