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01:41
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Originally posted by jctrout:
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ok friends, here's the bulk of my work on the resource condensed. LD was the only one valued due to having a straw in it proving gas was present. Lead A and B are shot, they're in the the Corybas fault block and are unlikely to be valid due to water. Lead C is in territory that was classified as tight soil on the northern side of the Alanooka fault, so it can't be valued at all until tested, likewise Springy Creek. Lead D could be the next best prospect in my view and should have been an exploration target. Lead F is too far into the trough and is likely to be a feeder to west Erregulla and Lead E rather than a true target. Lead E itself in my view is partly water bound and has a true aerial extent of approx 34km2, not 74km2 as reported. Lead E is likely to be a stacked profile similar to West Erregulla and similar net pay, so it wouldn't produce like Lockyer in my view.
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Iain from my conversations with him always viewed GIP evaluations at $1 Gj as fair value. given what happen with WGO didn't change his view, even he considered it high priced .
