Current #I3E 197mm STOIIP based on av. 40ft oil sand thickness across Serenity.
But known parameters are 10ft at Serenity oil find and 150ft at neighbouring 13/23a-5Y location.
Av. of the 2 is 80ft, though Eastern (10ft) part is wider, but not by double.
Even remaining conservative, Serenity is bigger than 197mm STOIIP, whether #I3E are saying so are not.
#I3E CEO Shafiq (22 min 20s)
"What Serenity also does for us is puts us into a development. . . Tain and Serenity will now have to be unitised as one field, and we will be part of that discussion with owners of the Tain field."
So clear message, Serenity/Tain are connected.
(24mins 10s)
"We do think we've got a very good thing here (Serenity) (big smirk). Its a good trading chip to have."
(18mins 25s)
"the interpretation of the owners of this field (Tain) is that it is isolated, sits alone, is not connected to anything on either side"
I'd think there's a great deal of work going on behind that #RRE/ Repsol cool exterior right now.
#I3E landed Block 13/23c right under their noses and proved something they didn't think was there, and investors say its #I3E that doesn't know what its doing.
Sure about that?
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