Hi stumpytrunks, My interpretation is that total depth was always to drill into basement to establish the true thickness of the primary Patchawarra objective at Vali 1. I did not see any mention in todays announcement of an gas-water contact in the Patchawarra, so our net pay count is possibly going to be a gas-down-to-basement outcome (fingers-crossed) which may invoke a stratigraphic component to the final volumes in addition to the structural component. Now that would be good news. I am glad they are not over-selling the Vali-1 result before analysing the final wireline log results i.e. providing premature pay counts. If they elect to undertake formation pressures that will give them a good indication of reservoir quality i.e. permeabilities.
So far so good. Keen to see net pay count for the gas zones and hopefully net pay counts of possible oil zones.
Kind regards OldGeo
MEL Price at posting:
4.5¢ Sentiment: Hold Disclosure: Held
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