I believe it was about 5 or 6 years ago that the NT Govt reported that the Amadeus Basin has 6 Billion Barrels Oil Equivalent (CONVENTIONAL) yet to find in this Basin.
That number has significantly been increased by the former MD with Reports that he released about the Unconventional Potential of this Basin also.
We could see our share price at $20+ easily with some significant drilling. However only 3 wells have been drilled in this Basin in the last 50 years and one of them (Surprise 1) made a commercial discovery.
The rest of the oil is just sitting there in this Basin begging to be discovered.
Why hasn't our current Management drilled even 1 hole in our 100% areas since they came on?
Maybe our Management needs to read those REPORTS eh!
Has anyone ever heard our management bring up this fact even once since they took over besides all the jaffa stories?
Is there a reason for this? I believe that the current figure for both Conventional and Non Conventional barrels of oil equivalent yet to find in the Amadeus Basin alone is closer now to 8 billion barrels based on those other reports released by our former MD. But nobody id talking about them. Has Santos seen them. I bet they have!
Our former MD use to get consultants to do this studies as frequently as possible. Ambrose and Heugh (both geologists) were well aware of this and got stuck into this Basin for both its conventional and unconventional potential.
Just check out all our reports back in 2008 to 2012 about this before Cottee came on Board.
Whose on the ball now eh?
Come on Management, get on with it and drill!
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