Ann: Roc-2 Confirms Gas and Condensate-CVN.AX, page-57

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AoverT

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25/09/16

18:42

Post #: 19407383
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Originally posted by entropylord ↑

I am no geologist or the like, but having considered the images and information discussed I have prepared myself for dissapointment. There is certainly not enough information to be positive of meeting the threshold imho, however there might be enough information imho for those more qualified to dismiss it ( as the market appears to have). Whilst the sands may be much better than anticipated the arial extent looks like it is going to be very dissapointing.

Nevertheless we definitely seem to have something of the quality that would be a valuable part of any development that were to happen in the area, so at worst we have a significant stranded asset of say 200 bcf in an area wide open to further discovery. Given the development cost it might actually be better if this is so, and we moved on to discovering a more economically robust field. We are too small for the risk of developing anything marginal imo.

In saying this I am going to annoy some, but it is my honest albeit unqualified sentiment. I will be waiting for the CVN interpretation and can only be pleasantly surprised from here (having written it down under threshold in my mind). I could well be premature.

I am however not at all discouraged as to the big picture, this is at worst a very good three well play opener imo. I still expect to see commitment to a further one or two wells as soon as they can organise them.

I hope they are brave and only bother with targets big enough to give the economics a knock out punch and double the sp, no pouncing about (apologies to any pounces) with small low risk prospects, but I trust they will ignore my sentiment and do the right thing.

This is the oil game, it can be slow, and it is expensive, and it's generally complex.

EL

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"We are too small for the risk of developing anything marginal imo."

EL: We can not develop (presumably produce) anything marginal or even outstanding ourselves, as said before there is more than one way to skin a cat.

Last edited by AoverT: 25/09/16

CVN Price at posting: 10.5¢ Sentiment: Buy Disclosure: Held
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Ann: Roc-2 Confirms Gas and Condensate-CVN.AX, page-57

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Ann: Roc-2 Confirms Gas and Condensate-CVN.AX, page-57

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