It's not surprising to suggest little expectation of oil in the Pacoota, as while it may have certain productive layers at Mereenie, I don't think there are any intraformational seals. i.e. there are sections of tight and porous Pacoota, but you would probably expect shows between unless one layer was a particularly good seal. Given we saw no shows on entering what we thought was the Pacoota, then reasonable to expect nothing in this section.
I hope I am wrong on this of course, but I am very happy with results to date anyway.
CTP Price at posting:
57.5¢ Sentiment: Buy Disclosure: Held
