" it is planning a 3D seismic survey over the field in what would be a first for the Amadeus Basin."
Santos shooting 3D over the field (Mereenie) clearly vindicates Askin decision to go for 3D.
Why would Santos buy over 100% of an aging Mereenie? IMO, it is going for the unconventional HVT oil shale in Mereenie, and Magellan is unable/unwilling to share the cost. Risk is high, but the potential mentioned is in billions of barrels. IMO, the risks are worth taking because the HVT parameters (TOC, HI, VR, TMAX) are all on par or better than Bakken (see my earlier posts).
Given the uniformity of oil shale, Santos drilling / fracturing of the oil shale in Mereenie will have a huge implication for CTP.
a bakken in our backyard, page-2
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