just keep an eye on the two partners xst and SGC on hotcopper, we post a lot about alvares and dempsey on those boards.. more so on xst thread
we have been waiting a long time for this well...
just a few thoughts...
dempsey is a safe bet, we totally know there are hydrocarbons in the sections they are testing,, we also know it will flow gas,, but its down to engineering...
alvares,,, its already a discovery, the gas is behind pipe.. the well was drilled in 1982,, you can look at the logs on the doggr site... its a got loads of gas and its totally overpressurised... its going to be tested also shortly..
regionally we know CRC tested a well nearly years back.. same structure... we hear that it was positive result for them...
SGC raves on about it being multi tcf... its certainly got the potential... bombara was part of the original project and sold its interest to xst and sgc... now they want back in... they had to list to be part of it.
they have been leasing hard for a good 6 months to capture all the acreages... imho the group will drill in the next 6 months
MPE Price at posting:
0.1¢ Sentiment: None Disclosure: Held
