STX take the prize for the most news flow in the Perth basin but...

STX take the prize for the most news flow in the Perth basin but again, it appears there are a few furphy's here:

Gas-water-contact (GWC) is a definitive piece of data for defining the volume of gas. In 8th April release they state "Gas was observed throughout the entire reservoir sections with no gas water contact seen."

Meanwhile today's release upselling South Erregulla (which is a great prospect by the way) states :


So have they encountered a GWC since 8th April (interpreted on wireline and/or MDT data)? If so, this is a material piece of information that should be disclosed. If not, then the whole paragraph above is speculative and the Interpreted GWC is based on regional pressure data which is incomplete as STX rightly point out, there are no water gradients in the Kingia to define the water gradient. If they have proven gas below the point where WE spills into SE then I agree that SE is almost certainly charged too but there are no comments on the depth of the saddle or the Inferred GWC.

South Erregulla is a great looking prospect and is well place for charge but please stick to facts so the mum and dad investors don't get drawn in on speculation.