evans shoal discovery background reading

Link below to wet the lips about what can be expected from ESN1:

http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=text&issuerId=3883&announcementId=712762

ES is a truly massive gas discovery and ENI, having spent $350m, will be keen to make an FID asap thereby confirming road to market i.e. darwin, flng or TS...

Blackwood is right next door and primed, imho, to be drilled immediately after Evans Shoal i.e. spud mid-Sep. Blackwood North is very close, some 20nm, and on trend with ES. That is, ES' successful production flow was from gas intervals in the plover sands at ~3500m and the Blackwood discovery's successful MDT was from the same plover sand gas intervals at ~3500m. This depth for both ES and Blackwood is the clear differentiator from Heron. That is, Heron was some 1100m deeper than both ES and Blackwood. The deeper the well the less permeability and porosity making the gas tight and very hard to flow. ES, at over 1km shallower flowed at 25.5mcfpd, With all that 2012 super high tech 3d that ENI shot over blackwood, imho, blackwood will repeat ES.

Looking forward to the short term when MEO is informed by ENI, in writing, as to when Blackwood will be drilled and MEO is also finally 'allowed' to release to the market Blackwood's drill allocation as well as the results of ENI's 3d re how many tcf - hopefully somewhere between 2 and 4 tcf p50...

Good night.

Adl