echuca

The next value driver is the Echuca Shoals farmout, much bigger impact to value than being credited... The following PDF has aroused my interest. Just what are they inferring?
WA-377-P 2TCF gas in place
WA-377-P another 2TCF upside
Are NXS suggesting that there is 13 TCF upside in the wider Echuca??
View the map, note WA-377 (the white area) then note the overlap into the joining blocks. Worth some speculative comment.



From the March 09 1/4 Report.....
Echuca Shoals gas discovery (Nexus 66%)
WA-377-P Permit – Browse Basin, Western Australia
Additional geological studies have indicated that the Echuca Shoals Tithonian reservoir section is stratigraphically isolated, highlighting the up-dip potential for additional trapped gas. The Fossetmaker-1 well is interpreted to have intersected the gas-water-contact and detailed seismic inversion studies and an assessment of the well data indicate that the potential gas in place at the Echuca Shoals gas field within exploration permit WA-377-P is approximately 2 Tcf, with the potential for associated condensate. The geological studies also indicate the presence of a
deeper exploration target in an older reservoir section which has the potential to add another 2 Tcf of gas in place.

Another well will be required to test this potential and several possible well locations are being considered. Nexus is targeting this follow-up well to be drilled later in 2009 subject to successfully farming-out the cost of the well. The farm-out process was initiated during the quarter.

Good Luck ..
SharpE
Importantly...DYOR!!