I agree that there is a solid chance this is a supercharged pressure point, but I would hope that the G&G staff at STX weren't directly reporting supercharged pressure data on an ASX report as that would be muddying the water in terms of usable data for investors.
If this is not a supercharged pressure point then it may possibly reflect an isolated zone of porosity that has maintained it's maximum depth of burial pressure after uplift in the Late Permian and/or Late Jurassic. This would indicate the IRCM was buried about 600-800m deeper than it is at present, which sits within most reasonable regional estimates of uplift.
Not sure if this the answer and there are several other scenarios that could cause the elevated pressure, although these are much less likely, which is why I am waiting for more data to eliminate some of the other options
STX Price at posting:
18.0¢ Sentiment: None Disclosure: Held
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