muddy waters,
Read the report on PS2 - they hit 39 metres of very high pressured gas (16,000 psi).
There is still some 200 metres to measure (according to JV partners).
Note, the Caley sand is some 500 to 600 metres thick there.
PS3 will be drilled some 500 metres away from PS2, so the chances of it hitting gas and condensate is 100%.
The issue for me is; what is the gross and net pay; how big the structure is and; whether it is part of a stratigraphic trap (refer to Feb 2017 presentation).
Its the Caley sand so we can assume it will have similar porosity and permeability as ROC.
Of course, my personal view is that it is part of a stratigraphic trap.
muddy waters, Read the report on PS2 - they hit 39 metres of...
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