Chariot Oil & Gas - Re: CHAR Stream Log - Regarding TexDrilla's geology comments---mature source...

Regarding TexDrilla's geology comments---mature source rock is not an issue. The seabed in this area has many "pockmarks," which result from gas venting out of the rocks. Source rock has also been proven in near by wells. The presence of sand bodies is also very likely, as the mountains or hills on shore should be a good sediment source. Also, the seismic data which they have presented shows sediment formations which are very likely sand bodies. As a practicing exploration geologist/geophysicist, I look favorably on their Namibia prospects and the interpretations they have presented. I do have two questions, however. 1) Is there an effective seal over the forecast reservoir rock? Drilling will tell. 2) Does anyone know why they chose to not drill the deeper structure? I would not expect the incremental cost increase to be that much and, to my eyes, that structure is comprised of folded sediments, as a potential anticline trap. I am sure there are good reasons for not drilling that little bit extra but I don't know what they are. Has CHAR explained their reasoning somewhere?