No- we're testing approx 19% of the nett pay- and potential plans for a DD3 drill as per previous announcement slide packs (which we think a partner will stump up for- cause we won't have the cash for another well given current balance)- you could extrapolate and infer from this current DD2 exercise but the process of 2P Proven evolves slowly from Reserves to Contingent to Proven- with diminishing results as you clarify.
i.e.
Neil said in his response today on that webinar to a Q asking his "favourite" of the 6 stages we're testing and he replied (not verbatim):
"the coals- they'll be the weakest flow but have 20-30 tcf potential"
IF we end up with say 2-3 tcf from these coals as 2P proven (from a Resource est of 20-30 tcf) that would be a great result- tremendous in fact.
We have enormous coal volumes and seemingly a bit of gas desorbed to them (recall the ALS lab onsite etc)
the trick will be to frac and stimulate these coals to extract the gas at viable flow rates- shed tonnes of coal- but getting it to flow viably is the trick.
But again, in essence to answer your Q- No....a 3 tcf 2 P Proven Grandis result will take time, more drills, more money, a partner etc etc.
But DD2 could set us up nicely to negotiate best outcomes to push forward to get a 2P number booked
So...we won't be a $2.40 sp anytime very soon- but could be, down the track...potentially.....caveat emptor
- Forums
- ASX - By Stock
- Ann: Investor Webinar Presentation
No- we're testing approx 19% of the nett pay- and potential...
- There are more pages in this discussion • 32 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add EXR (ASX) to my watchlist
(20min delay)
|
|||||
Last
10.5¢ |
Change
-0.005(4.55%) |
Mkt cap ! $119.0M |
Open | High | Low | Value | Volume |
11.0¢ | 11.3¢ | 10.0¢ | $523.6K | 4.958M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
40 | 2133552 | 10.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
11.0¢ | 298136 | 4 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
40 | 2133552 | 0.100 |
3 | 206505 | 0.099 |
2 | 15102 | 0.098 |
1 | 50000 | 0.097 |
2 | 30207 | 0.096 |
Price($) | Vol. | No. |
---|---|---|
0.110 | 298136 | 4 |
0.115 | 146568 | 6 |
0.120 | 293862 | 9 |
0.125 | 436800 | 8 |
0.130 | 207455 | 6 |
Last trade - 16.10pm 24/05/2024 (20 minute delay) ? |
|
|||||
Last
10.5¢ |
  |
Change
-0.005 ( 4.55 %) |
|||
Open | High | Low | Volume | ||
11.0¢ | 11.0¢ | 10.0¢ | 3161464 | ||
Last updated 15.57pm 24/05/2024 ? |
Featured News
EXR (ASX) Chart |