cooper history and res..., page-2

Thanks for the 'official' PIRSA view which is about what a lot of companies believe.

'Undiscovered resources (50% prob.) 2.4 x 106 kL (15.1 mmbbl)'

'Usually this (the trap) is an anticline, but stratigraphic traps can also be important.'

PIRSA estimates are based on the potential oil left in anticlines and since the big ones have been drilled they see only a modest potential left.

If however VPE/ITC is correct in their potential estimate of what stratigraphic plays are left to drill, the JV may have already fulfilled PIRSA's estimate (with Growler and Snatcher still anouncing appraisal and development wells) and have the potential in the next round of drilling to add a lot more.

Exciting times for geos and the investor but of course with risk.