Out of interest is there a reason you dont hold?

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tektron

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03/03/22

16:09

Post #: 59960348
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Originally posted by Ya: ↑

re: How can NSAI ratify reserves......
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Its pretty straight-fwd. They need 3 main datasets:

1) Seismics: Existing 2D or 3D seismics to workout the areal extent of the discovery (sq kms)

2) Drill data acquisition:
WL logs, gas gradient, GWC, MDT results, RCA/SCAL core lab analysis from full core or sidewall cores, drawdown/ pressure readings form MDT, gas sample analysis, fluid compositional analysis & Constant Composition Expansion data.

3) Production test results:
Flowrates & any associated pressure droppages, any nasties, i.e., CO2 or H2S etc .

If the discovery well has gas pay in the reservoir, then a appraisal well drilled away from this can help giving a certain degree of confidence about the existing Resource. This Resource becomes Reserves depending on the Project Economics mainly after FID is taken to pipe this gas. (or leave it in-situ for 50 years or so, eg Scarborough).

Please note that the 1.6 Tcf P50 is GIIP.

Flowtesting (ie XX MMcfd's), Expansion rates (~256 to 282 as per WE2) & WL logs etc will help in sussing out the Recoverable resource (ie 2C).

For now they have cut 45m core from the Kingia, they just need the rest of the Variables (ie WL logs, fluid samples from MDT et al) in due course.
Patience..

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Out of interest is there a reason you dont hold?

STX Price at posting: 30.0¢ Sentiment: Hold Disclosure: Held
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