caterina farm out, page-16

Ya,

Rose 3d's were completed 30/10
The references I have used are:

http://imagesignal.comsec.com.au/asxdata/20091030/pdf/01005402.pdf
30/10 - Quarterly
Page 11 of 19
In a mid case a single 35 metre sand in the structure could contain approximately 4 trillion cubic feet of recoverable gas
no p10 or p50 - but mid case implies p50

http://imagesignal.comsec.com.au/asxdata/20091112/pdf/01010027.pdf
12/11 - Chairman's address at AGM
page 3 of 4
Caterina could possibly hold up to 11 TCF
of in place gas.
no p10 or p50 - but "up to" implies p10

http://imagesignal.comsec.com.au/asxdata/20091112/pdf/01010034.pdf
12/11 - CEO pres at AGM
page 28 of 33
Potential Recoverable Volume (One 30m sand) P50 4 TCF
Potential for stacked sands
p50 mentioned

But the reason for my long post is the following
http://imagesignal.comsec.com.au/asxdata/20100120/pdf/01030235.pdf
page 9 of 17
A single 35 metre sand in the structure in a mid case could contain approximately 4 trillion cubic feet of recoverable natural gas. Stacked reservoir sands could contain up to 11 trillion cubic feet of gas in place in a mid case.

Notice the 11tcf is referred to as a "mid case"
That is its not a real p10 - its actually another p50 with a different "stacked sand" scenario.
Meaning that the p10 in Caterina could be much larger than 11 tcf.

It seems to me that they really don't know much at all about Caterina yet - implying that the Rose 3d's were pretty spread and cheap.

Question: wouldn't decent 3d's tell them if there are stacked sands or not?
OR
Do we need drilling for that?

Cheers

Brad