COE 5.71% 16.5¢ cooper energy limited

the writing is on the wall, page-26

  1. 1,620 Posts.
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    Set me off searching re Baong, Pulse. Lot of the info is subscription service stuff but this site produced a little chapter:
    http://www.jsce.or.jp/committee/2004sumatra/chapter_3.pdf

    Chapter states:
    Oil and gas deposits are found in Sumatra island and its continental shelf and they are located in the eastern side of the island in Aceh province. The Arun gas field was
    discovered in 1971 in the Province of Aceh. The field straddles the coastal plain between the Barisan Mts. and the Strait of Malacca. Condensate-rich gas is found in reef and associated carbonate facies of Lower and Middle Miocene Age that in places exceed 300m in thickness. These carbonates occur near the base of a Tertiary Age sedimentary section having a thickness of more than 3,000m. The carbonate rocks are underlain by a clastic
    sequence of variable thickness that rests on economic basement of pre-Tertiary Age. The reef carbonates occur on a large paleo-topographic high trending in a general north-south direction. The gas accumulation is mainly stratigraphic, having been trapped in a porous
    reefoid facies that is overlapped by Lower Baong (Middle and Upper Miocene) shale.
    Geochemical studies indicate that the Arun gas is derived directly from the Baong shale.


    So hopefully the big daddy of the primary targets is still to come. As the sp seems to have no allowance for Gurame in it at the moment, I cannot see how we can go down much further if it does turn out to be non productive for gas. Cannot see much reason to sell at these levels.
 
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