dr daz, page-46

I think it would be prudent for MEO to clarify this contradiction to ALL shareholders via an official release, rather than one shareholder calling the MD for clarification and leaving others in the dark.

Below is MEO's latest release on 454p regarding Lesueur-1:


"Marina 1 ceased drilling while still in structural closure, with deeper prospective horizons remaining untested. This prospective interval is collectively termed the Marina Deep prospect.
The target intervals were intersected in Lesueur -1 well
(25 km SE) and found to be of excellent quality."

Here is Geoscience Australia's official release on the same well:

"The well intersected sediments ranging in age from Triassic to Early Carboniferous, and bottomed in the Bonaparte Beds, of the Early Carboniferous. The reservoirs of the Kulshill Formation were found to be well developed and water-bearing. The limestones and calcareous sandstones of the Tanmurra Formation were tight, and unable to produce hydrocarbons at a significant rate. In addition, the hydro carbon-bearing zones of the Bonaparte Beds (Early Carboniferous) were found to be tight. The Bonaparte Beds shales predicted to occur down-dip, are probably the source of the hydrocarbons encountered in the well , as source analyses of the Bonaparte Beds and Tanmurra Formation sediments in the well indicate poor source potential. The salinities of the formation waters from Carboniferous sediments (105 g/l in the Bonaparte Beds to about 60 g/l in the base of the Kulshill Formation) indicate a lack of flushing and at least a partially effective seal. The Lesueur 1 well was spudded on May 16th, 1980, and reached a total depth of 3589m on August 22nd. Following an extensive testing program, the well was plugged and abandoned. The rig was released on September 30th, 1980."


The question is, which is it..."excellent quality" OR "tight, and unable to produce hydrocarbons at a significant rate."
You cannot have it both ways IMHO.

A public explanation please MEO management.

References:
http://www.meoaustralia.com.au/icms_docs/152138_Marina_resource_upgrade.pdf

http://dbforms.ga.gov.au/www/npm.well.summary_report?pEno=12949&pName=Lesueur%20%201&pTimescale=A&pTotalDepth=3589&pDepthMax=3589&pDepthMin=0&pPeriod=&pStage=&pAgeMax=344&pAgeMin=0&pAgeTop=0&pAgeBase=344&pTotalAge=344&pPrinterV=Yes