concept proven

Two simple points to describe why/impact (of) the over-pressured zone has derisked Artemis.


1. MEO has used its own data (Zeus) to discover Artemis, hence got in ahead of WPL.

"Prior to the drilling of MEO‟s Zeus-1 well in the northern section of WA-361-P, industry experts did not expect the Jurassic reservoirs to extend far beyond the NWS Project
fields. The Zeus-1 well however, encountered and proved the quality of the Jurassic sands whose seismic
signature was then tied into the Artemis prospect on MEO‟s recently acquired 3D seismic surveys. The 2009 3D
survey also allowed accurate calibration of MEO‟s depth conversion models which indicated closure of the
prospect to the north, an area which was previously thought to compromise the structural closure of the prospect."

2. The POS of the trap used for the GCOS has likely increased from 50% to 80%, lifting the overall GCOS to 51.2%.

Source:
http://www.meoaustralia.com.au/content/Document/Artemis%20Overview%20Jun10.pdf

These are just the thoughts of this lone sailor.