Ann: Wagina Gas Discovery, page-262

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Singlefin

89 Posts.

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02/08/19

14:20

Post #: 39832901
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Originally posted by psi81: ↑

There was nothing "wrong" in my post, except that it's been deliberately misinterpreted. I am not challenging SN's statement that the gas flow found by STX is stratigraphically deeper than that from WE1 and not previously drilled. It clearly is from deeper as WE2 is updip and WE1 TD was 4065m.

I am saying that IMO it is a deeper part of the same Dongara/Wagina gas accumulation that WE1 found. It has been said here that the gas found so far was "unexpected" - that is just not true. I was certainly expecting a thick, overpressured gas charged Wagina from the results of WE1, and I'm sure at least someone at STX was too. It would have been more surprising if they HADN'T found gas in the Wagina below WE1 TD, and the "blocky" nature of the Wagina Sst is well known so no surprise they found that either. The question is finding economic reservoir and that still hasn't been resolved, though I'm hopeful for the Basal Wagina based off the AVO modelling.

You are correct that I don't always get everything right on STX, especially because I usually don't have all the data, which makes reading between the lines tricky. But over the last few years my posts on STX's Cooper project and its issues have proved far, far more accurate than the constantly sunny claims on HC that have been promising imminent commercial flows for about 3 years now. I guess a direct line to management can be more of a hindrance than a help when it comes to getting a handle of the true picture.

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psi81 it’s so good to see you giving your invaluable input to this stock. Long may it continue...
Singlefin

STX Price at posting: 12.0¢ Sentiment: Hold Disclosure: Held
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Ann: Wagina Gas Discovery, page-262

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Ann: Wagina Gas Discovery, page-262

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