Ann: Roc-2 Confirms Gas and Condensate-CVN.AX, page-47

Cosmo ask them abt followup well at Roc-3.

R#2 is located 5.5 kms due east of R#1 & there's still another decent crestal closure 5 kms to the North. So that's the one to focus on for now given the twin successes. Forget Dorado for now.

The 'structure' over ROC has some minor faults, so once their 3Dseis & VSP data 'sees' the gas along 3 wells, then they should b able to plan on future dev options.

Water depth is shallow so plonk a platform, run a 175km pipeline to Port headland & hook it into the Pilbara Pipeline.

Reason I say this is bcoz ROC looks a little bit like Apache-Santos's John Brookes field, which had more gross-net & the volumetrics changed from 400 to 800 bcf after 2 wells. Currently it has 5+3 wells on it & the gas is sold to Nextgen's Kwinana & Newcrest's Telfer mine with 15-20 yr offtakes. Some of these wells were batch drilled from a platform as deviated wells from a drill-centre. So the same can b done at Roc in my view.

Noticed that CVN have used a base case of 40m gross frm 4 sands at R#1 to book 2C-270 bcf.

They were hoping for an additional 80m gross pay with P50 193 bcf gas (hence the plan to cut 120m core at R#2) which they didnt intersect.

So on the flipside, the original 40m gross showed up as 60m, with better permeability, & the net pay from 4 sands increased from 13m to 30m five kms east, which is a plus.

After flowtesting is completed & core analysis is done by the Lab, I hope they can provide a revised estimate for this field with plans for a third well to the north (pls chk slide-7 by FINDER from CVN's 18th Jan presentation).