pel/pela map nvg, lnc, ede, page-76

Nihilism,

At no point did I say D&M and Gustavson were incorrect in their assessments. They followed a method and the method guarantees a resource (because it assumes discovery of a resource and they implicitly state this). For instance, NVG, or anyone could employ them and say "Look, we have this many acres, the prospective formation is x metres thick, the porosity values are blah, TOC is blah, Vitrinite reflectance is blah, Tm is blah and so on" They'll plug it into their computer program which will then estimate a resource based on those parameters and apply a set of chance factors to come up with a low and high value for the resource estimate.

Again from LNC announcement 27 Sep 2011:

As per AWT international assessment of Arck-1 results:
"3.1 Maturity
The maturity of the samples provided was determined by plotting depth against Tmax and Depth against Production Index (PI). This indicated that all the samples were immature based on the depth Vs PI plot using common PI cut off limits (Figure 1). However, when the Tmax Vs Depth plot was used (Figure 2) the samples were immature to early oil generative in maturity. The chance that the samples are in the oil expulsion window is low at these sample depths."

As per Intertek Geotech assessment of Arck-1 results:
"This data is consistent with sediments that likely had very little source potential to begin with, or sediments which have undergone earlier hydrocarbon expulsion."

Here's Blindy Bondy's spin:
"Our current studies indicate that the Stuart Range Formation shale is expected to be IN THE OIL GENERATION WINDOW at depths over 700 metres. Linc Energy has identified a significant section of the Boorthanna Trough, approximately 93.5km long x 12.3km wide, where the
Stuart Range Formation shale sits at depths within the oil generation window."

So nihil, what are the multiple experts saying?


LBJ54, it's best not to pay attention my sentiment. I switched it to None as it should have been none to begin with... I haven't formulated an opinion on NVG, I don't even know the guys running the show.