Santa Rosa Seismic and Cross Section
i estimate depth to be about 900 m at midnight pdt
here is a map of the 3 previous holes drilled on the SR block thanks to Brantley on the otto thread at hotcopper
and a copy of a post by 62strat explaining the significance
“So, from this information, combined with some other pics I have, I can see that of the 3 holes drilled on the SR block to date, the 2 that had hydrocarbon gas shows were the hole to the west (closer to the proven kitchen), and the hole about 12km from the Dome peak (if that is how we can interpret the pink shading on your map. The hole drilled on the southern boundary had nothing to show.
The hole drilled near the peak was drilled right on top of the northern thrust fault in a group of 3 almost parallel thrust faults which run along the southern edge of the Dome, and also right on top of one of the old 2D grid lines (which are about 20kms apart). I assume this drill site was chosen from the 2D info, and the hole did have HC gas shows, but no “discovery”.
Personally, I’d rather have seen some 3D seismic shot before drilling commenced, but that’s a bit late now.”
this is a great map showing how the dome was missed as it sits right between the regional seismic lines
as i see it there are 3 possible pools of oil; the main dome, the second smaller dome and the fault bounded pool to the south. the drill hole between the faults just missed either the fault bounded oil and the main structure.. bad luck i guess..
cross section of SR
this graphic shows the source rock in green and the possible source rocks of any oil that would have migrated east..you can see the easterly source is possibly bigger than the westerly one ..arrows indicate migration pathways.. all VERY EXCITING!!!
kwhurs01
me too .. i think a lot of people will be buying for the gold if the oil dusts..
i bet some trailing stops got triggered today .. its an old trick to get cheapies before the move up ..
Blackout till the 29th.
Booooooooooo!
I can’t wait that long. Heck, time has started moving really slowly for me. I can even count the number of times the wings of a fly move in a second.
It’s that bad.
I need a time machine to jump forward a couple days so I can tell my earlier self from a month ago to
A) not to worry
B) to buy more shares at 0.70
Oh hell, I’ve held for all this time…whats a couple more days/weeks. (lets not hope for that last one though…weeks brrr the thought alone sends shivers down my spine)
Expect an operations update tomorrow night, as usual. Hopefully, there will be a surprise to the upside… Caliche, are you still on for 100K?
Let me know…
G1
Oromin down today, but Otto up a bit again, and, in my opinion, Otto has more to
lose…
F’IN DUSTER JUST ANNOUNCED BY OTTO RE: SANTA ROSA
NO FERRARI FOR CALICHE!!! DAMN!
G1
Dry as a bone………After reading the news release sounds like Otto does not even want to drill a second hole. On to the Gold!!
Doublem2
This may be a blessing as the SR oil play has been nothing but a distraction for the company. Given the odds of success at about 12% it shouldn’t be a huge surprise. The gold has been a 100% sure thing and will continue to be. Let’s focus on the gold and put the oil play behind us. I hope they don’t spend another penny on it.
too bad for all of us. would have been fun.
Not sure how many of us are really following this gd stock….. Sounds like not very many of us unlucky fans. I have been very hopeful of SR all along …….. oh well…. lets move forward.
As hopeful as I was….. i always noted the companies somewhat indifference to the success….. These are challenging times… I personally am taking a cavaet emptor approach to ole. I feel mgmt was never forth coming to SR.( outside of a small print back page success % rate on the indy report ). Tnhat is a red flag on the future of OUR INVESTMENT.
I am not sure that I can ever agree that missing in SR could be a blessing or was a distraction. If SR hit, it would have increased the share price many more times than just the gold alone. With Dr. H working on this project for 15-20 years and Oromin buying into the project about 9 years ago, the only conclusion I can come to is Chet should stick to mining and Dr. H. should retire.
Oromin has underperformed year after year, luckily we have IAMGOLD invested.
SR would have meant an instant boost to the share price, now we are going to be lucky to see the $4 bucks we saw a couple years ago when all we had was hype. In the past I would have said this stock could go to $15-20, now with all the dilution and no SR, I think $5-7 would be lucky. I for one wish I cashed out at $4, didn’t have to deal will all of the BS over the last few years and could have made some real money in the market…
Just my bitching…
G1
too bad for all of us. would have been fun.
Not sure how many of us are really following this gd stock….. Sounds like not very many of us unlucky fans. I have been very hopeful of SR all along …….. oh well…. lets move forward.
As hopeful as I was….. i always noted the companies somewhat indifference to the success of sr….. These are challenging times… I personally am taking a cavaet emptor approach to ole. I feel mgmt was never forth coming to SR.( outside of a small print back page success % rate on the indy report ). That’S a red flag on the future of OUR INVESTMENT.
CHETS A VERY CAGY GUY….. been at this a long time….. for a lot of us,,, we have to trust him. But based on SR…. i dont know what to say.
The company says as little as possible to the sh drs…… waits till the deadline to get pR’s out. Delays everything,,, dilutes shares whenever possible …. but expects us to take the hi road in viewing the company. He’s running out of money in feb 010….gotta find a buyer or another PP for more spending money………….
At 1 dollar now…. where are we really headed.? Time to face facts gang… we’re at $ 1 now. Lots of us been here five years and more… he’s got 6 months to sell ((unless he gets another sugar daddy for a PP i n Iammgold @ 70 cents). How do we get to 5 bucks in the b/o…. seriously…. no more bs here. this whole progranm seems to be in denial……… Tell me i’m wrong… he had 18 mil at the pp…. runs out at 2.5 mil burn rate p/ month. runs out in feb…. what am i missing/ at 1 dollar now,,,, and a seller that has to sell in 6 months …. seller has hat in hand at 1 dollar…. wtf do we do if the PF in september isnt very good? ?
Well, I am very dissapointed in this entire company at this point. Management I truly believe – SUCKS! They have always kept things so tight lipped and are outright liars in my book right now, I am having a hard time with the oil end of things – but lets face it folks, they have lied about the gold also. Why are we as stockholders of this stock being informed about every detail along the way! Why? They are feeding the greedy hand and that is those that we have invested in over the many years. They are no different than any other Corporate thief. It is perhaps time to unleash an investigation as to where this money is really going and why we pay the price for there neglect.
Yes, I am very angry at this management, but not just for this silly oil RIDE they have taken us on. There is supposewd to be a second oil land investment down the road with Chet, WHO WANTS TO GO ON THAT RIDE??? Not me!
Get back to the business of obtaining a true valid value for this gold and stop playing with our money CHET
Where does it state on their site that it was a duster?
I can’t see any new newsletters????
You have got to go to the OTO site where they have released a news release
ASX ANNOUNCEMENT
28 July 2009
DRILLING UPDATE
Otto Energy Limited (“the Company” or “Otto”) (ASX: OEL) provides an update on
its exploration drilling program in Argentina.
Argentina – Santa Rosa Licence
On 26 July 2009, the exploration well ‘OLE.MD.SRE X‐2001’ reached a total depth
of 1,270 m in basement.
An initial electric logging evaluation confirms that the well has not encountered
hydrocarbons. The results suggest that the target reservoir zones are not present
at this crestal well location.
The Joint Venture will now study the well data and incorporate this in a regional
data base to determine whether potential stratigraphic traps on the western flank
of the Santa Rosa dome warrant further investigation.
The well will be plugged and abandoned as a dry hole.
This concludes the current exploration drilling programs for Otto’s non operated
assets.
Yours faithfully,
Paul Moore
Chief Executive Officer
And this is what we were fed::::::::::
Oromin Exploration Ltd. (OLEPF.OB) Continues to Prove its Argentine Oil Find
Posted on 5/22/2009 3:01:57 PM in #Stocks | 0 comments comments
Oil and gold exploration is just that, exploration. Sometimes a solid find exceeds expectations, while in other instances that discovery proves to be a “dry hole” with less potential. This understanding is just the nature of the gold and oil exploration game. There is always a roll of the dice in these instances but there is also the chance of incredible returns.
Oromin Exploration Inc., an oil exploration and development company, works to locate and develop oil interests. Its current prospects are located in Argentina. From all recent independent reports, the company’s permit, relating to its CCyB-9 Santa Rosa exploration project, indicates a sizable find with solid upside potential. The company does indicate that there is still work to be done, but finds that the independent reports show a realistic potential for 131.5 million barrels of oil.
The independent report also sets realistic economic potential of $2.3 billion (using $42 per barrel) as a likely outcome where revenues are concerned. This, however, may seem low as oil prices have been depressed in recent months and could climb as conditions vary. With this in mind, the independent report does point out that the Canadian method of assessing the find was used. This method is widely accepted as the standard and sets out specific levels to call a find of mineral resources as a certain type of find. In this instance, the CCyB-9 Santa Rosa prospect is considered as an “undiscovered recourses” property.
The oil exploration market is at an interesting cross road. Last year’s massive run up in oil prices gave the industry a certain “bubble” mentality as the economy crashed. Nonetheless, the world’s economy is almost entirely dependent upon the commodity. Playing the strictly commodity oil play is a fairly dangerous game. Finding a company that has the potential for providing the product well into the future is less so. Oromin Exploration seems to have something and is in the process of testing it to confirm size and scope of the find. Oil is, and will be for the foreseeable future, the energy source to run the world. A solid find, if it proves out, should propel Oromin Explorations to greater heights.