Great stuff drilling on schedule...spud approx 15/12.. Neil Gibbins, said “The Vali-1 prospect is representative of what you often see in the Cooper/Eromanga Basins in terms of highly prospective anticlinal structures. The prospect has the right address, with over 600 Bcf of gas produced in nearby reservoirs with associated infrastructure taking gas to Moomba. Our team is familiar with these types of structural prospects, the subsurface imaging of which has been enhanced by the recently completed and interpreted Snowball 3D seismic. These wells can be drilled in a matter of weeks and are generally fracture stimulated to enhance flow and can be converted quickly to producing wells.”
MEL Price at posting:
3.8¢ Sentiment: Buy Disclosure: Held
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