Ann: South Erregulla Update, page-72

I just spoke to SN to question the differing opinions on MD, TDVSS v's WE, up-dip, down-dip, that seem to be causing a bit of a fluster on here today.

The answer was that current drilling confirms SE is higher than WE (the structures), but SE-1 and WE-2 are about the same depth.
SE-1 is being drilled off structure, whereas WE-2 was on top of the structure.



So I take that as the SE structure is likely (on average) higher than the WE structure but this particular well site is the same depth as the WE-2 well.

He also said..... The SE-1 well coordinates were chosen to bank as much resource as possible from an initial discovery well. It wasn't the peak of the structure. Of course this was chosen with a risk overlay in mind. Meaning they wouldn't have drilled that spot unless the seismic showed the anomaly blooms and other tell-tale signs of good reservoir.

It sounds to me like all levels on the way down have matched very closely to WE-2 so far also.

Next week will be interesting !