spud of condon-1 well only 3-4 weeks away !, page-3

Importantly, the Kennedy Range 1 well (KR-1) drilled 10-15km to the north of the proposed Condon-1 Site demonstrates encouraging evidence of working petroleum system:-

• Proven hydrocarbon generating basin and presence of good quality source rocks
• Good gas shows in the KR-1 well with gas bleeding from multiple cores
• Hydrocarbons present over 800m+ section from 1,200m to 2,000m
• Onset of wet gas generation below 1,100m
• Primarily gas targets but evidence for liquids potential also exists
• Shale formation present across acreage at attractive depths
• Primary shale target up to 300m thick
• Average TOC of 6% - 7% and up to 16% in Wooramel group
• Encouraging reservoir sands for conventional targets
• ~12% porosity with hydrocarbon charge


Logs for KR-1 well below significant show Propane, Ethane and Methane encountered in the well. Gas looks to be mostly Ethan and Methane looking at the spikes. Also Gas was bleeding from the drill core which was made up of Shale and sandstone.