Mr Fitzgerald has shown a textbook example of downramping, a bit of a pity.
His Title: 'Poseidon field fails to deliver for Karoon'
-It hasnt failed to deliver any of their stated objectives for the well. "The objective of the well is to test the extent, presence and
quality of reservoirs down-dip from Poseidon-1 where the Plover Formation is interpreted to
thicken" - Result: drilling objectives achieved on all counts.
"But Karoon insists ... its pre-drill estimate that Poseidon could contain as much as 7 trillion cubic feet of gas in the Plover reservoir"
- actually, the 7TCF at probability of 50% has been supported, but probably reinforces also that on balance the original (huge) estimates of P10 10-15TC also remain supported
- it could actually contain alot more than 7.
poseidon field fails to deliver for karoon , page-3
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