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Strategies & Market Trends : Bosco & Crossy's stock picks,talk area -- Ignore unavailable to you. Want to Upgrade?

To: Crossy who wrote (9537)	5/18/2005 8:26:46 AM
From: RRainman9999	Read Replies (1) \| Respond to of 37387

Update DNO.OL from Fs:/Oil search Key conclusions: Oil Search says there is pressure communication between the N-2 well which found gas and N-5 which found oil. Due to the geographical distance and the height difference between these two wells this could indicate a significant oil find with a gas cap on top. Oil Search indicates a possible 210 metres gas column and a 250 metres oil column, which could be as high as 600 metres. The Quishn reservoir higher up where DNO has booked 20 mb is only 12-14 metres high. If this is correct, the size of the Basement/Kohlan could be significant. The gas cap on top is very interesting as DNO may re-inject gas inorder to keep up the pressure and increase the recovery rate (Basement production in this area tends to see pressure problems). More wells have to be drilled to define the Basement/Kohlan discoveries, but we believe the market has underestimated the possible magnitude of these discoveries. We continue to expect a 30 million barrel+ upgrade of proven and probablereserves within 2-3 weeks from the Nabrajah Basement/Kohlan discoveries. However, if Oil Search's assumptions are correct the reserve potential may be significantly larger. 10 million barrels for DNO represents NOK 7-8/share. Fingers crossed amigos...could be a rocket launch for those who are invested in DNO.OL.. RR