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!!
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