The P3 is a worthwhile target but I do wonder why it took until they are halfway through drilling the well to realise it.
The problem is that you need the intersecting fracture network to produce gas at PV. The two horizontals they drilled in the Stairway at Mereenie seem to have been total failures due to lack of fracturing, and if they don't find fractures in the P3 this will fail too. So presumably the "additional diagnostic" they will run will be an FMI image log to look for signs of fractures in the vertical. If they see signs of intersecting fractures they will make a call to chase it with a lateral.
The fact the development at PV to date has been focused on the P1 suggests the P3 hasnt been found to be fractured, but horizontal drilling can find fractures much better so it's worth a try IMO. It's possible that there are fractures but they are more widely spaced so it's difficult to hit them with vertical wells.
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