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midtieroil

02/13/12 4:54 PM

#253397 RE: stocks2rise #253392

I don't know why it is that people can't get past the notion that seismic is seismic and drilling is drilling. The biggest most techically competent companies in the world still drill dry holes all the time because interpreting 3D seismic is still NOT an exact science. The seismic for every well is examined intensely so saying the seismic was studied intensely so it can't be wrong is absurd. Seismic is often wrong is.

I think the biggest mistake that was made here was that they drilled all the wells at once instead of drilling one, recalibrating the seismic based on the drilling results and then trying again. To be honest, that was stupid. But they were almost forced to do that because they were up against a deadline where these wells had to be drilled or the blocks would be lost.

Hopefully they can figure out how their initial theories were so wrong and develop a new one. The first one failed miserably and hopefully there is now a new one that is actually correct about where the oil is. That is, if there actually is oil in the JDZ.