Spot on, first page is a must read. Talk about confidence...

Spot on, first page is a must read. Talk about confidence inspiring.

Key points for me:

• While the Lockyer Deep and North Erregulla Deep prospects have been known of for many years, it was exploration success at Waitsia, West Erregulla and Beharra Springs Deep that led the Company to regard these two relatively small gas prospects as structural culminations upon a much larger feature that is believed to cover an area of over 100 km2

So NWE believe LD-1 could be over 100km2... much greater than the previously thought 66km2... upside to the 1.1 TCF is very significant. I'm thinking 2+TCF.

• The exceptional quality of the Kingia Sandstone reservoir - some 20 metres of net pay with excellent porosity and permeability - leads us to believe that the forthcoming well production test will confirm a reservoir that is of particularly high deliverability.

Just wait for the upcoming flow test... it could be record breaking... and they are pushing for this to be completed before CY21 is out.

• Reservoir pressure data indicates a very significant gas column, estimated at 600 to 800 metres. This result indicates that the field's
  bounding faults act as an extremely effective seal, and that the gas within extends over a large area. Norwest Energy's predrill estimate of high case prospective resources was over 1.1 TCF of recoverable gas. We believe that the discovered resources exceed this figure, and potentially significantly so.

Wow.

• The JV is planning to acquire a 3D seismic survey across the LD-1 discovery (plus the upcoming VSP) and adjacent exploration leads in order to better define the scale and nature of the gas resource and inform future appraisal drilling. Also acquire a 2D seismic survey across permits EP368 and EP426, aimed at maturing a number of exploration leads that have been identified and which have been upgraded by the Lockyer
  Deep-1 result. We expect both surveys to be completed during the first quarter of calendar year 2022.

So by end of March (i.e. in only 5 months time) we could have a very real understanding of how big LD-1 and all the other leads really are.

After 11 years in NWE, all of sudden the speed of developments is giving me a nose bleed lol

Truly transformational stuff.

GLTA