"You are correct, Plover sands make a good reservoir. However, look at the depth of the better reservoirs such as Ichthys. This "discovery" is 1500m deeper! The core sample will give porosity, which is the size of the gas tank, but this does not help flow; that's permeability. Once again, Plover has problems here because of cementation. Even if the inferred permeability is low, the well may flow due to fractured permeability, so a test is warranted. Just understand, this is the big risk and one will need to be circumspect if Karoon make a fuzzy announcement or complain about equipment failure. Such equipment always gives trouble in tight rock."
The kar announcement was fuzzy...now Hosking blames mechanical failure. I think the news report read....."going back to try next week"...
KAR Price at posting:
$8.00 Sentiment: Sell Disclosure: Not Held
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