it will also be at a higher pressure = more gas/unit volume.
For everyone else....Re: SE - people have missed a key point.
When they completed the drilling and flow tests of SE2 and 3, the co published a new structure contour map for the reservoir.
It was evident n this new map that SE2 and SE3 penetrated the Kingia down dip. of the top of the structure....which appears to extend into the 50/50 ground.
In both wells, it seems the reservoir penetration was at the gas/water interface. Both tests reported water with some gas.
So, if 3 is correct, then a penetration slightly up dip of SE2 and SE3 will hit the gas saturated part of the reservoir.
If i am correct, it seems the company is putitng this in its back pocket for now and focusing on the lower hanging fruit of Walyering; West Erregulla.
STX Price at posting:
23.5¢ Sentiment: Buy Disclosure: Held
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