There has been very few trades over the past months!!! Date....... Close Volume 7/11/2013 0.058 235,667 31/10/2013 0.040 25,000 20/09/2013 0.047 16,483 18/09/2013 0.042 226,550 13/09/2013 0.046 31,221 10/09/2013 0.048 46,222 2/09/2013 0.048 15,000 29/08/2013 0.043 7,211 27/08/2013 0.050 5,444 22/08/2013 0.050 10,000 19/08/2013 0.050 84556
Yesterday's ASX ANN DMA 7/11/2013 2:59:49 PM Irwin Shale Gas and Shale Oil Potential http://www.asx.com.au/asx/statistics...idsId=01463529
November 7 2013 ASX Announcement IRWIN SHALE GAS AND SHALE OIL POTENTIAL
Dynasty Metals Australia Limited (Dynasty) is pleased to announce it has received an independent report of assessment on shale oil and gas potential within tenements EP484 and EP485 in West Australia. The two permits are located in Irwin River Terrace, North Perth Basin and 100% owned by Dynasty Metals.
It has been concluded by an independent consultant, Austar Gas Pty Ltd (Austar) that the hydrocarbon accumulation is identified in the Cadda Shale, Carynginia Shale and Kockatea Shale. The fairways of the hydrocarbon play present in west of Irwin River Terrace, which is next to the existing oil and gas fields. The report has estimated prospective original oil in place of more than 2 billion barrels of shale oil and original gas in place of more than 20 trillion cubic feet of shale gas.
Austar is considered a specialist in Australia having extensive experience in evaluating resource of unconventional petroleum. These conclusions have been drawn from data in adjacent wells and the publicly available regional geological information.
Dynasty’s Managing Director Lewis Tay said, “Other petroleum players have commercially produced oil and gas in Dongara, Mount Horner, Woodada and other blocks which neighbour our permits. The report indicates that the reservoir of the commercial field extends to our permits. The study gives us confidence to invest further in exploiting shale oil and gas in Irwin River Terrace”.
The Company is also currently in discussions with various potential JV partners in relation to these assets, or alternatively, a spin-off of these assets into another vehicle and an in-specie distribution to Dynasty shareholders may be considered.
DMA Price at posting:
5.8¢ Sentiment: Hold Disclosure: Held
