G'day 6379. Would love someone to try to interpret what this is...

G'day 6379. Would love someone to try to interpret what this is all about.


"good quality sandstones reservoirs were penetrated.

The data obtained while drilling and testing the Well is YET TO BE ANALYSED IN DETAIL.

Icon Energy Managing Director Ray James said that the only conclusions that can be drawn from the DSTs at this point are that hydrocarbons (oil) HAVE MIGRATED through the rocks where the fluorescence was observed over the entire Evergreen and Precipice sections.

Mr James said that the DSTs have established that the Precipice Sandstone presents a GOOD RESERVOIR FOR HYDROCARBONS AT THIS LOCATION.

“The petroleum was confirmed with the presence of good reservoir and seal with strong oil shows. FURTHER WORK IS HOWEVER NEEDED TO DEFINE AN EFFECTIVE TRAP".

“A South Maroon Well and other prospective well locations are currently under consideration”.

My guess is that oil HAD BEEN where they have drilled so far (possibly part of the Moonie "kitchen")and that IF any oil was still "trapped" SOMEWHERE there, the sandstones provide a good reservoir.
But now they have to find that "effective trap" (the reservoir), hopefully, with oil in it and probably have to drill another well. Doesn't give any clues about that "sidetrack" to the west.

Sorry Ray, that one has gone through to the keeper, hope you make the next one a bit clearer. Market certainly hasn't understood it either.