prospectivity of south gergina basin

Hi Young Trader,

I got the following from CTP's website. Please note that CTP's EPA 132 permit is right next door to BKP's EPA 128.
The Georgina Basin EPA 132 Central, via its wholly owned subsidiary Merlin Energy Pty Ltd, has taken out a 120 block
(10,000km2) permit application in the South-eastern Georgina Basin, regarded by as being the most prospective basin in the Northern Territory. The Southern Georgina Basin of 150,000 km2 has the following attributes making it prospective for significant accumulations of petroleum:
(p) only 8 wells drilled, some of which had no pre-drilling seismic and none of which were
located on valid structures;
(q) 20 stratigraphic tests conducted to date;
(r) only 750 line km of modern seismic;
(s) abundant petroleum shows, especially in the Middle Cambrian;
(t) over 40 billion tonnes of petroleum has been estimated to have been produced and expelled from the Middle Cambrian from the Arthur Creek Formation where source rock
analysis has shown TOC values up to 16%;
(u) the Arthur Creek Formation exhibits fair secondary porosity in limestone units and porosity
of 5-17% in the Steamboat Sandstone where drilled; the target horizons of which are anticipated to be terrestrial or near shore marine channel sands or delta lobes of good to excellent porosity and permeability; and
(v) oil shows to date in the Middle Cambrian have been mainly unaltered, mature, aromatic
crudes of marine origin.
In EPA 132, Central is primarily targeting potential shallow channel sands and delta lobes of the
Steamboat Sandstone member of the middle Cambrian Arthur Creek Formation at easy to drill relatively shallow depths of from 500 to 1,000m identified on neighbouring blocks from seismic and assumed to potentially run into EPA 133.
The channel sands arethought to be some 200m vertical thickness and up to 5km in width while the delta lobes may be of much greater volume. Clearly, such conceptual targets have multi-million barrel potential. Analogues of this sort of conceptual play type are to be found in the Jurassic Smackover Formation in the Oaks field in Louisiana. or in the Lena-Tunguska Province of Siberia.
DYOR