before listening to 'aussie bears', see this.., page-2

Jody, IMO the Kent Moors stuff is mostly fairy floss. Its sweet and gives you a rush when you initially read it but when you finish it it doesn't amount to much. In the heat of the moment you might subscribe to his newsletters and pay him some money. I say don't bother.

Arckaringa is awesome because it is highly prospective for hydrocarbons thanks to the very thick layer of organic rich shales.

What have Linc Energy done?

IMO they knew the area had potential from old well reports so after buying SAPEX they seem have achieved the following important things.

1. They found oil shows at Maglia-1 which is not far from the old oil shows of the past but this time they took a sample and had a guy called Barber do a detailed analysis in 2010 - the analysis indicated that the oil was sourced from Marine Carbonates which as it turns out don't occur in the area of Maglia-1. This means that the oil had migrated from elsewhere where marine carbonates occur, most likely from the marine shales in the Boorthanna trough in Arckaringa basin.

2. They did seismic survey work. This is important and I will explain why in the next bit....

3. They drilled a number of exploration and stratiagraphic wells. Although none of these hit conventional oil "pay" zones they were very important - the well logs and cores when combined with the seismic survey helped Linc to build an integrated seismic and well data model of the area which when crunched by powerful computers with a whole bunch of analysis will be very useful for homing in on the source of the maglia-1 oil.
Remember in heaps of Linc quarterly newsletters they talked about processing the data - they were not kidding building a 3 d model to identify oil plays with sparse data takes a bunch of time, re-runs what-if's and patience to confirm results and assumptions.


4. They also took samples of the Shale in their well at Arck-1 and the analysis of that was a lotto moment - the analysis revealed that this very large shale formation was on the edge of the oil production window and also had oil shows. What does that mean? liquid rich shale with high organic content is good news. Good though this well was it raises the possibility (and nothing more) that elsewhere in this formation there may be very large segments even better than "on the edge of the oil window" maybe slap bang in the middle of the oil window but will take more drilling to prove it, guided by the 3d analysis.

With all of their well data, seismics and being the holder of the PEL ..... PLUS recently the new holder of the mineral exploration licence in the area Linc have the data, the licence and have locked it up to prevent others doing seismics and exploration holes and independantly recreatiung lincs work.

Good job so far PB, now bring home the bacon with a nice deal.