I have little doubt that you have a much better handle on the geology of the region-Kudos to you.
I was simply trying to make the point that if there were a large, easily (ie, not extremely remote) developed oil accumulation in the onshore Canning then they would very likely have found it back in the 60s or 70s.
I'll make this prediction: If there is an elephant out there somewhere, it will be at least 400 km from Broome and will require an oil price way north of $100+ before anyone would consider drilling for it, let alone developing it. I sure hope I'm proven wrong. 50-100 million recoverable less than 100ks from Broome would sure put a rocket under the share price.
I'm not ruling out the possibility that the 50-100 million barrels could be found in increments, but 1 big discovery seems unlikely at this late stage.
Cheers, and I certainly hope you are right.
BRU Price at posting:
27.5¢ Sentiment: None Disclosure: Held
