Ann: State of Play - Reid's Dome Gas Project, page-3

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Burty85

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10/12/19

13:57

Post #: 41890312
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Originally posted by Feral54: ↑

There are a number of pieces of interest that are new to me. "Pressure testing indicates up to 100m of gas column". Previously we were told 9m of conventional gas pay from Aldinga. These 9m are demonstrated by the 3 yellow shaded areas on the diagram page 9. Clearly gas is being generated from the multiple sandstone reservoirs between the coal seams at depth. Page 4 "1500m thick section of multiple prospective sandstone reservoirs". This does rather reinforce my previous question over why Aldinga was aborted at 880m. "Initial indicative gas content = 18cum/t at Aldinga (best seam). The cattle creek sandstone has 3 confirmed independent reservoirs, the most recent at Aldinga which was missed by 50m by earlier exploration. We knew previous exploration was ad hoc but this confirms a previous failure." ReidsDome Beds source rocks mature for oil and gas". Again management has not excluded the possibility of oil. Overall, the way this exploration is shaping up, with 3 gas reservoirs in the CCS alone, plus other zones up to 100m of pay, also with the Coal and CSG content confirmed from Nyanda to Aldinga then it would appear that Reid's Dome could stand as either a CSG project or a conventional gas project. Combined we may well be looking at a very nice little Dome indeed. Again the DST results for the Cattle Creek Formation at Serecold would be nice to know!. Feral

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Keen to hear more about the CR, I thought we were flush with cash for at least 6months or more.

GAS Price at posting: 74.5¢ Sentiment: Buy Disclosure: Held
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Ann: State of Play - Reid's Dome Gas Project, page-3

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