Ann: Poseidon-2 Progress Report No 8 , page-13

All good LoveCCE.

The announcement reads as follows;

"There is currently insufficient information to assess the reservoir and hydrocarbon characteristics of these secondary Montara sands. Only when a full data set is available will the significance of these sands be known."

Note they infer the presence of HC's and refer to the Montara as sands - as in plural.

More importantly the Montara sands (Late Jurassic)host the Argus Gas/Condensate field on trend to the NE.

DRET speculates that on trend with Argus and Torosa, there is the potential for large Montara reservoirs. More info under "play types" at: http://www.ret.gov.au/resources/Documents/Acreage_Releases/2008/site/page141.htm

Guess what is smack bank in the middle of Argus and Torosa, on trend? P2 baby!

I expect given the HC-kitchen is sourced from deeper Triassic reservoirs in this area, and we confident about regional seal, I'd say this also derisks the primary target at this location.

I'd say there is a >80% chance of the greater Poseidon structure holding >10Tcf and ~50% chance of >15Tcf.

Just my mug calcs, but this is ridgey-didge gas resources we are talking about.