"In mid-February Hyperdynamics announced results of its first Guinea exploration well, the Sabu-1, which indicated the presence of residual hydrocarbons in multiple layers of sandstones distributed
throughout a 1,300-foot interval of Santonian- to Turonian-age sediments in the Upper Cretaceous section."
I did comment on the 400m remark that Ray made at the conference and here it is again in the PR saying 1300 ft. There were traces of oil throughout, not in just one or two sands. I see this as being very significant and I'm not sure that we knew this before. I think this is Ray's way of telling us about the core samples without actually saying it directly. Perhaps our partners do not want this known at this time and refused to allow us to report directly on these core tests.
By the way, many people insisted that because we had multiple sands the odds of hitting oil must be much higher than what NSAI reported because of that . Fact of the matter is they are really not. If one of the elements necessary for a successful oil trap is missing from one sand there is a very good chance it is missing from multiple sands in the same well.
