They've drilled the basin edge, which was always thought to be liquids-rich relative to the central deeper shales. The Tanumbirini Trough gets very deep very quickly, so this is great work and a stroke of luck that the tenement crossed the basin boundary.
One potential issue will be if there is enough overpressure at these relatively shallow depths to drive the liquids to surface at an economic rate. The fraccing next year will tell that story. What a great hit for them!
Ann: Carpentaria-1 Intersects Liquids Rich Velkerri Shale Gas, page-25
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