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Hi All

A question or two for Daz, Ya and other technos if I may?

Blackwood-1 seems to have several key objective:

Objective 1. Validate the contingent resource (comprising of flamingo (13m)and plover sands 47m)) from Blackwood (i.e. 2C of 0.819 tcf (raw)) down to MEO's inferred GWC of 3190m ss or 3226m MDT.

There is no mention in update #6 of any mud loss issues, gas readings and definitely no coring of MEO's 'Blackwood discovery (i.e. dark red coloured section of the topology from then agm's slide pack (slide 9 of 17)....

very interesting....???

Objective 2a. Test ENI's Blackwood-1 Deep Prospect of an additional 35m of play from 3190 ss (or 3226m MDT); MEO estimates this additional play would increase Blackwood-1's prospective resource by 1.355 tcf (raw).

Progress Report #6 states that ENI has cut core from 3,226m (i.e. 3190ss) to 3,283m MDT (i.e. 3247ss) with 60m of core recovered (but maths suggests 57m so a small typo). Remarkably, the core cut is from exactly where ENI estimated the Blackwood-1 Deep Prospect would come into play and THEN ALSO extends another 25m beyond the estimated 35m of play.

Objective 2b. Confirm how deep is the Blackwood-1 GWC. Progress Report #6 states TD (GWC?)was 3,425m MDT (or 3389ss) which is an additional 142m of potential gas play. So JUST the Blackwood-1 Deep Prospect could be a gas play of 202m.

So it would appear Blackwood-1 could potentially contain the Blackwood Discovery 2C of 0.819 TCF (raw)PLUS the Blackwood-1 Deep Prospective resource of 1.355 TCF (raw) (i.e. 35m) PLUS 167m (i.e. 202m - 35m) of potential gas play that could potentially equate to a Blackwood Deep prospective resource of 6.465 TCF (raw) (i.e. 167m/35m x 1.355 TCF).

This all adds up to the Blackwood Discovery 2C of 0.819 TCF (raw) PLUS 7.82TCF (raw).

Now those are some serious numbers!?! Right up there with ES?!?! Imagine what this could be worth is that get Blackwood-1 to flow like ES and the gas is circa 25 to 30% CO2.

Maybe too simplistic of an analysis (re 167m/35m x 1.355 TCF) and/or to assume that the Blackwood Discovery 2C AND Blackwood Deep's circa 202m is FULLY gas charged.
Thoughts?

Adl