This bit in todays announcement could also be significant - "with the Patchawarra Formation intersected seven metres high to prognosis". If this is not a local structural high point isolated around Vali-2, especially since the structural closure at the Patchawarra VC50 level for the Vali Field is 28m, with Vali-2 coming in 7m high to the existing depth map at VC50 level, could open up the eastern flank of the Vali Field (seismic velocity implications for time to depth conversion), with potential healthy volume upsides. If a seismic velocity survey was run in Vali-2, the geophysics will be busy updating the depth structure map to account for Vali-2 coming in 7m high to prognosis. In my view, this is no small issue, again, unless it is a local high point isolated around Vali-2.
Kind regards OldGeo
MEL Price at posting:
2.3¢ Sentiment: Hold Disclosure: Held
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