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Thanks mir that's how i thought it was.It certainly would be a...

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08/11/23

13:43

Post #: 70785417
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Originally posted by mir911: ↑

in red tells the story & i know the NWE refugees are going to say it was the plan to get NWE cheap but imo that's not the case
so after LD1 MIN thought FWL/GWC was 4500m SS & 100+km2 of resource & after LD2 the FWL/GWC came up to 4,007 metres
& the recourse went down to 11km2 a 90% write-down, so now LD would be lucky to have 150BCF down from 2TCF
my sources tell me LD3 is a DUD & MIN in their quarterly have said it wasn't completed for testing yet
& the kingia at NED1 was most likely above the FWL/GWC of 4007m SS so basically the top of kingia
i do agree with alexei there is most likely more gas on the the rest of their ground, especially adjoining ep469
time will tell whose on the money

12 April 20232TCF
Lockyer-2 Well Results
Perth Basin energy company Norwest Energy NL (ASX: NWE) (“Norwest”) provides the following
summary of results at the Lockyer-2 gas appraisal well.
The primary Kingia Sandstone target was encountered at 4,142 metres with very low levels of
background gas. The decision was made not to core and the well was drilled ahead to Total Depth at
4,369 metres.
While an excellent quality Kingia Sandstone reservoir was encountered, analysis of wireline data
indicates that the reservoir is water saturated. Furthermore, sampling confirms that the aquifer is at
substantially higher pressure than previously interpreted. This result impacts the resource potential of
the Lockyer Deep-1 discovery, as the anomalously high aquifer pressure indicates a much reduced gas
column. The freewater line (FWL) is now interpreted to be at a depth of approximately 4,007 metres,
with the potential resource area (above the FWL) now estimated by Norwest to be approximately 11
km2
.

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Thanks mir that's how i thought it was.

It certainly would be a brave move to buy a rig with the results they've got so far but as pointed out our prospects could keep it busy and GinRes definitely need the gas

STX Price at posting: 38.8¢ Sentiment: Buy Disclosure: Held
1 Upvote

0 Great analysis

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