KAR 1.10% $1.84 karoon energy ltd

Explanation, page-22

  1. 12,798 Posts.
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    Well the drilling team certainly nailed the depth in a hurry. No complaints there. A small positive, a very cheap hole.
    I am very disappointed by the duster. Monday will likely be awful. Hope I'm wrong.
    I don't agree with Hotfire that Echidna was secondary. I think the option for drilling sequence was kept open deliberately to best protect against a duster in KW and subsequent SP demise. If they had drilled and found a gusher, then they would have looked at a lower COS hole whilst doing analysis for a further hole at KW.
    I would think KW helps to prove the theory that deposits are likely from major ancient stream flows east to west and not from pre salt. Hence the deposits on eastern side of diapir. Means echidna the best bet, especially with oil shows at Emu and geology similar to Kangaroo. OWC visible on improved seismics sounds good to me. Can they really see that.??

    Ahhhh, the eternal optimist.!!
 
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