A little extract from the Annual report. Things are starting to look good. Next couple of months should get interesting!!!
Bessies-1 The well encountered a thicker than average, 40 metre section of Toolebuc Shale at a depth of 883 metres. Encouraging liquid hydrocarbon shows were recovered during coring operations and the shale core actively degassed during the controlled desorption process.
Euston-1 The well encountered a 32 metre section of Toolebuc Shale at a depth of 540 metres. The shale core actively degassed during the controlled desorption process.
Katherine-1 The well encountered a 44 metre section of Toolebuc Shale at a depth of 538 metres. The shale core actively degassed during the controlled desorption process. As drilling is still in progress we are unable to report details of the secondary oil target of this well.
Early results from these shale wells provide confirmation that the Toolebuc Shale system is capable of generating free hydrocarbons, in both liquid and gas phases. The core analysis will provide solid technical data that will enable the Joint Venture to plan an appraisal program to establish the commerciality of these discoveries.
EXE Price at posting:
11.0¢ Sentiment: LT Buy Disclosure: Held
