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Gold/Mining/Energy : Red Sea Oil Corporation (RSO) -- Ignore unavailable to you. Want to Upgrade?

To: Donald Lickman who wrote (43)12/22/1997 1:12:00 AM
From: Tomas  Respond to of 332
 
Recoverable oil reserves: maximum case 230 million barrels of oil, most probable case 180 MMBO. Conservative estimation: 100+ MMBO.
If the Zelten reservoir turns out to be a reefal build-up (see press release 12.09), well, then we have a lot of oil! Originally they estimated the maximum potential at 130 MMBO, but then they didn't expect to encounter anything in Zelten.



To: Donald Lickman who wrote (43)12/23/1997 12:04:00 AM
From: Timelord  Read Replies (1) | Respond to of 332
 
Donald: See my summary of the NY conference call with IPC/Sands executives this morning, posted on the IPC thread:

Message 3027972

They did not speculate on reserve numbers, but are very bullish on the potential for this prospect. We should know within 30 days what this well has in store. True valuation of reserves will take more deliniation wells to establish.

Alex


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