blastoff tuesday, page-12

Unfortunately as noted elsewhere, this is one of the worst cases of nearology of all time. The LNC tenements comprise virtually all of the Arckaringa Basin (at least the southern part). EDE's tenements DO adjoin LNC a bit but they are totally outside the Arckaringa. They have parts of the Torrens Hinge and the so-called Mulgaria Sub-basin (Adelaide Geosyncline).

Tectonically they are TOTALLY different. Have a look at page 7 of this link http://www.bhpbilliton.com/home/aboutus/regulatory/Documents/odxEisAppendixKGroundwaterAndGeochemistry.pdf to see the extent of the Arckeringa Basin.

You can also look at LNC's announcement - page 5 - http://www.asx.com.au/asxpdf/20130123/pdf/42ckdwt996l7ps.pdf

Compare that with EDE's tenements on the map at EDE's price query response: http://www.asx.com.au/asxpdf/20130125/pdf/42cm1rs6hcw8kb.pdf - as you can see the EDE teenemts are on totally differrent geology.

Now have a look at page 11 of the BHP link to get an idea of how the Torren Hinge is divergent from adjoining strata. The cross section is just a little south of the LNC Basin so may actually miss the Ackaringa Basin (but is north of Olympic Dam so in the right area!!!) I think it gives the picture that the two lots of ground are totally unrelated.

Now, that's not to say that EDE aren't sitting on a huge gas resource, but I suspect it will be totally unrelated to LNC's geology. Its about the same as saying Collins St Melbourne is a good spot to park your yacht because it is close to Port Melbourne. BUT good luck EDEers anyway!