Providence Resources - Re: PVR Stream Log - "Barryroe is a very big...

"Barryroe is a very big structure, and it is already known to have 60 million barrels of recoverable oil. "It wasn't developed in the past because of two issues, one was a fear about compartmentalisation, and the second was the wax content." He adds: "So this well, and the programme we've pursued for the past eighteen months, was designed to shoot those two things down." O'Reilly explains that this has been achieved. He says the reservoir has been demonstrated to be less compartmentalised than anyone previously thought and the waxy crude oil won't be an issue either. "It is a heat control issue. In the past, during the seventies, it would have been a technical challenge and a cost issue, but the technology has come on in leaps and bounds since then. "And with modern technology and today's oil prices (anything above US$30) it is not a problem at all."