Hi barneydigs, The shallower gas shows. demonstrates that we have an active / working petroleum system (good), but we already know that. In my view, the Kockatea Shale, Carynginia Formation, and for that matter the Irwin River Coals Measures, are proven seals in the Perth Basin so I believe we have ample evidence of seal integrity at Lockyer Deep-1. That said, there could be gas migrating from deeper in the section, such as the Dongara Sandstone, Irwin River Coals Measures, and the Kingia / High Cliff Sandstone, up along the Lockyer Fault and charging shallower, porous zones with gas. That could be interpreted as either positive or not-so positive. From a positive viewpoint, it could indicate we have hydrocarbons within the Dongara, IRCM and/or Kingia zones with some gas leakage/ migration out of these zones, but the bulk of the gar remains trapped in the deeper horizons. From a not-so positive viewpoint, it could mean that the Lockyer Fault has provided a leak point where gas from the Kingia / High Cliff Sandstone over millions of years has all but leaked away (not so good).
The only way we will find out if with the drill bit. Good luck holders.
Kind regards OldGeo
NWE Price at posting:
1.0¢ Sentiment: Buy Disclosure: Held
