montara & plover formations

Crux Area Appraisal and Exploration Potential ...

Libra-1 though in AC/P41 is the exploration well that is expected (hoping) to prove the expanse of the Montara & Plover formations (from AC/P23).

--Substantial Increase in Crux Field Reserves 19-3-08--
“The results from these wells (Crux3 & 4) have been incorporated into an updated top reservoir map, which highlights the potential for the Libra and Auriga prospects to form part of a much larger Crux accumulation. This will be tested by the upcoming Libra-1 well to be drilled in exploration permit (P41).” (Ian T statement)

In my opinion it can’t be emphasised enough just how important libra-1 success is to us Investors!
Assuming success by the end of this month, it would make a certainty of achieving fair value for the probable 25% Farm Out of AC/P23...
And the SP will respond appropriately “north”

Good Luck ...
SharpE