.OGY. Orca energy limited. Oil and gas in the cooper basin. Orca energy announced Friday 23rd that they along with sxy as the joint venture partner had made a commercial oil discovery in the cooper basin with the Burrunna2 exploration well. Net pay interval of 5.3meters with oil free flowing to the surface at rate of 750 bpd..........strong. Now being tested for permeability. The rest of the cooper is strong and next fa is sure to confirm this also.
Important to note this is part of the Murta formation in the southern cooper, which is the newly formed "Fury joint venture" area. Free oil observed and hydro colours noted over gross interval of 14 meters.
OGY is 1 of the cooper oilers that haven't yet appeared to have insto attention, like the others such as senex over the past 2 years. This and further commercial discoveries that may occur from senex attention could see this as a great free carry.
Position held as of yesterday, taken after initial pump and pull back. Looks like a good entry point now if you can get it.
