Spent a few minutes on Google... Makes me a mud/gas analyst now :p
1% mud gas reading is just under a gas show reading (G1) .. (G0 is not much gas, G5 you've busted a propane tank...) Elevated mud gas reading suggest there's a good chance of gas being present.
SO, I suppose it means there's a pretty good chance of there being hydrocarbons there, which could be associated with oil, but it's not always the case.
Could be wrong, 3/4 of a bottle of red has vanished, but ann looks ok!!!
Have a squiz, half way down the page.. Look for the G1 with reference of 1% shows..
http://dbforms.ga.gov.au/www/npm.Well.show_shows
Remember, they can't truck any more oil and the scaled tax system will hurt if they crank up oil production, gas however?????
Might be a very smart management move to hunt for gas??
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