Ann: Hydrocarbon gas recovered & evaluation program forward plan, page-1185

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Moop10

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23/11/23

00:30

Post #: 71055325
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Originally posted by VOGC: ↑

Hi All,

For those interested, just Posting my reviews of the ASX 20/11/23 & Webinar 20/11/23. Points in Slides 1 & 2 refer to the numbers in Slides 3 to 6.

Key points of interest for me are:
The water sample from the Pebbly Arkose, which based on SM's comment in the Webinar I have assumed was obtained, should allow for an "immediate" relatively unambiguous interpretation of the logs run to date in both Mukuyu-1/ST1 (a formation water sample was not obtained) & Mukuyu-2. IMO, the very strong ASX comment "Wireline log interpretation identifies multiple hydrocarbon bearing intervals in Upper and Lower Angwa reservoirs" would be based on this. IMO, this would also have likely placed SM in the position of having, pre the announcement's release and the Webinar, some preliminary hydrocarbon net pay numbers for both Mukuyu-2 and Mukuyu-1/ST1. Having this information could have explained SM's very confident tone on occasions in the Webinar that I felt were somewhat out of context with the lack of samples being obtained from the Angwa reservoirs.
Both the Webinar presentation Slide 2 & the release mention a "Lower Angwa gas leg". In oil & gas industry parlance you would normally only ever mention a gas leg in the context of existing oil leg or legs and likewise only mention an oil leg in the context of an existing gas leg or legs. Possibly an indication that, as in Mukuyu-1/ST1, oil legs have been preliminarily interpreted?
In the Webinar at the 12:35 point SM comments "...to make sure we maintained control of the well and didn't have a blow out...". IMO, for SM to have used the term "blow out" when discussing the well this implies very strong gas charge in the Lower Angwa section they were drilling at the time.
I've noted in my Reviews the multiple sources of data / information that IMO would support the positive log analysis that IVZ have mentioned i.e. significant invasion, the "blow out" comment, high amounts of trip gas & differential sticking issues.

IMO, all very positive.

GLTAH
Cheers
VOGC

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Oh look, VOGC is extremely bullish again

is he so out of touch?

No it's the market who are wrong
IVZ Price at posting: 13.0¢ Sentiment: None Disclosure: Held
6 Upvote

0 Great analysis

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