Ann: Commencement of EP413 Arrowsmith 3D seismic acquisition, page-15

Nammuldi,
Xanadu has sat on the shelf and been unloved up until the appointment of the new Geophysicist. He has 40 years experience working in the Perth Basin Area so I would/do hope that he does know what he is talking about.

Dean Powell, Technical Advisor
• SEG and PESA Member with 45 years experience in oil and gas exploration.
• Actively involved in Perth Basin exploration since early 1970s.
• Senior geoscientific roles with majors as well as 20+ years as independent consultant on exploration projects overseas and in many Australian basins.

I know from talking to Peter Munachen and Shelly Robertson at Melbourne while they were doing their investor briefings that Dean Powell has got them excited about the prospects for Xanadu. I sincerely hope that they can put a deal together to drill this and the sooner the better.
If it is successful and it is a big if, there is some evidence from other fields in the vicinity that it may flow at or near 10k barrels of Oil per day.
Do the maths on that with the projected recoverable reserve of 150 million barrels at $40.00 clear.
That is 41 years of product. If the deal is 50% .... then $20 by $10K per day equals $1.4million per week .... should just pay the staff don't you think.
Xanadu was drilled before and they intersected an oil column but they drilled the side of the structure and just clipped the edge, so it is a known formation.