theory number 99, page-5

guys , not sure if you know of PSI(any1 who hasnt read his posts in the past, i do beleive imho he does have sound knowledge in the O&G sector, a comment from him from another thread:
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post6143028
It's conventional gas they're targeting offshore, not CSG. Whether the "big five" of source, migration, trap, seal and reservoir all work out or not remains to be seen, but the most interesting thing so far is that Advent Energy in its first well, currently drilling, has struck a previously unknown sandstone unit 40m thick with an average porosity of 30% - that's a world class reservoir if it's laterally continuous. And this well is literally just offshore from Newcastle.

Of course they still have to find somewhere where that reservoir is full of gas, but it's a good start.

Perhaps this could actually be advantageous to ESG, though, as a major (but hopefully not too major!) gas find offshore of Newcastle could offer an opportunity to JV for a combined LNG plant.

Anyway, it's all hypothetical for now, the chance of commercial gas would have to be 30% or less one would think, but I'll be watching Advent's drilling results in the offshore Sydney Basin with interest - might be worth us ESGers keeping an eye on it. Though if they do find something it'll probably just give Yaq and db something else to argue about. :)
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