Thanks Occam. I can only go on what has been reported by the company, which, in the last MD Address for the 2010 AR stated that the Lydia Block drilling had indicated coal measures averaging 13 metres with low permeability and non-commercial flows of only 100,000 cfd and that stimulation was required. But, the engineering process used for that drilling did not provide for that.
The test results to date from these latest drills "appear" to be completely consistent with the results from the earlier drilling (average 13 metres of coal and low permeability). I am comfortable to wait to see how the "stimulation" works before I pass judgement.
Must also not forget that Netherland, Sewell and Associates has already "confirmed" a resource estimate of 6.1TCF, or 6100PJ within the permit, being a contingent resource of 1115PJ (2C) and 1775PJ (3C).
The only missing factor for "certification" is "commercial flow" and if that can be obtained with this current drilling programme, with the "necessary" stimulation, NSA will be able to provide reserve certification.
Again, I am more than happy to wait for all the work to be completed before I start getting pessimistic. Time will tell, but, it is far from the "duster scenario" that is being suggested.
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Thanks Occam. I can only go on what has been reported by the...
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