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

To: Timelord who wrote (51)12/29/1997 1:02:00 AM
From: Tomas  Read Replies (1) | Respond to of 332
 
<<...the appraisal program was going to be continued in June and would last six months>>
I think it will last 6 months from now UNTIL June, but they are still waiting for OK from the Libyans.

During the first teleconference 2 1/2 weeks ago they were more willing to comment on the reserves, and off the record they are infact already counting their chickens... ("at least 100 million barrels"). They will be testing the lower Zelten reservoir this week, wonder if the indications will be reflected in RSO's stock price immediately?



To: Timelord who wrote (51)12/29/1997 2:01:00 PM
From: Donald Lickman  Read Replies (1) | Respond to of 332
 
The word "appraisal" in oil talk means the drilling of additional wells after a discovery to determine the size of the structure.

I would suspect that RSO will in fact immediatly carry out an appraisal program (based on good test results) to deliniate the size of the structure they just drilled the discovery well.

What was the name of this structure?

Regards


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