Ann: Significant Gas Discovery at Lockyer Deep-1, page-399

Nice one Usman, great ref comparison to Strike. I would note that the initial Kingia gas shows in LD-1 reported at the start of the week highlight 26 m porous chamber at 89% saturation and an additional 41 m of elevated gas shows below that. Ian also mentioned that the broader structure is considered in play here. My own estimate of this right now is that the net pay in the Kingia is between 30 m to 41 m over at least the 67 km2, so I'm saying 2.0-2.7TCF in the Kingia (if consistent with STK) plus 0.4-1.0 TCF in the HC. The oil show is a wild card, but as someone else said on the thread, there was genuine discussion at the mining and gas conference during the week in Perth that it was likely to be extractable. My own estimates on that is around 72 mmbbl with 30% extractable (26 mmbbl) if porosity holds up. Gas in the Dongara is also a chance, maybe 0.3-0.5TCF extractable if lucky.
The total net pay here with all ducks lined up could be 8-9 c a share on LD alone. add the additional resource scouts with a healthy risk load and we are at the 15c mark prior to drilling Lead E or Springy Creek. I think we will get the first inquiry about TO after flow tests, but I'm backing the board to maneuver accordingly and keep the game open until at least Lead E or Springy is tapped.
My view of the 38% chance of success at LD-1 prior to drill would now be around 60-65%, but would rely on good flow tests to make the 100%
Anyway, always good to throw some ideas around. GLTAH DYOR Have fun, go forth, multiply and prosper