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gimo211

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11/04/23

04:04

Post #: 67208011
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Originally posted by gimo211: ↑

Hi alexei ii

As mir911 said the well intersected Dongara/Wagina and stopped drilling in the Erwin River Coal Measure (ERCM). The ERCM is overlaying the Kingia and the historical well report for North Erregulla-1 stated that they had water in the permeable parts of the ERCM.

mir911 brought the well report to my attention with a post in the NWE thread. This was the reason why I sold about 21m NWE shares days before LD1 results at that time. From today’s perspective, it was a very painful decision, but it was made to the best of my knowledge at that time (and I just came out of the Ironbark failure where I held a couple of CUE shares until the results and hence I was a bit more sensitive to possible failures…). We both discussed afterwards how it can be possible that LD1 is such a great success - despite the bad results of North Erregulla-1 (and we had not found a complete answer if I remember our conversation correctly)…

I cross my fingers for a good result with Lockyer-2!!!

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Here excerpt from the NE1 well report from 1967...

But there is a shale sequence reported which could separating the ERCM from the deeper Kingia...

STX Price at posting: 43.0¢ Sentiment: Buy Disclosure: Held
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Rumour, page-96

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Rumour, page-96

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