Encouraging so far but I want to hear about the wireline logs to confirm. I think our JVP are a conservative group which is what I like, so I am hoping they have not over hyped this initial gas show announcement. Below is the log from the nearby Stratmount-1 well over the Toolachee Formation. There are extensive gas shows (red peaks shifting to the left above background gas), most associated with coal beds and less extensive gas shows associated with the interpreted net pay in sandstones. I'm hoping our JVP acquire multiple MDT's to confirm movable hydrocarbons as they have done in the past. Looking OK so far and I'm keeping my fingers cross for stratigraphic upside.........and movable hydrocarbons in the Toolachee, Epsilon and Patchawarra Formations. Not down-ramping here, I'm just providing a early balanced view with information from a nearby exploration well.
Kind regards OldGeo
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