Just to pass the time, I went back and had a look at the EIA world shale report of 2 years ago.
Maybe in the next drilling in DR11, they should consider going twice the depth. Here is a brief summary of what this report considered the main areas of interest in the Perth Basin, bearing in mind it is now two years old.
www.eia.gov/analysis/studies/worldshalegas/pdf/fullreport.pdf
(if you download and save to your computer, be aware this is a 365 page report - 17 mb - and Australia is the last country, so right at the end of the report. It is a report on SHALE GAS but shale oil gets a look in. Also, it does not include the US which is in a separate report)
From Page 335:
KOCKETA formation - Triassic age - Marine shale
950 feet thick for organically rich shale
average depth 10,700 ft (note the depth - twice the recent drilling by TTE)
Primary OIL source rock
TOC average 5.6 per cent
CARYNGINIA formation - Permian age - Marine shale
2,300 feet thick for organically rich shale GAS
Average depth 10,000 ft
Primary GAS prone
TOC up to 11.4 per cent
This is just the basic info and the report is now 2 years old.
You would need to read the report on the Perth Basin in detail to get a better idea of what is postulated to be down there and at what depth....as you can see, this is a long way down (over 3000 metres so costs a lot to drill) so best to wait and see what AWE come up with in the next drilling, in my personal opinion, or keep checking the NWE reports. Don't write off the Perth Basin - it's just a longer term prospect that others can derisk before TTE takes big chances with it (imo).
This last drilling had to be undertaken, to retain the lease per DMP rules. So, a case of been there, done that.
TTE should be concentrating on the Allen Dome (imo), where we know we have hit the oil and are getting instant production and cash....lots of it.
Spreading ourselves too thin could be deadly, for a micro cap stock. Especially when we have a cash producing salt dome with a lot more holes that need drilling.
All the above is my personal opinion. DYOR.
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