highlights from last presentation

I can see from the latest presenations that NSE's confidence for its business is getting stronger by the time. While NSE is drilling through the Goldwyer project at Nicolay-1 well location atm, the preperations for farmout agreement and drilling for Merlinleigh project are getting clearer by the time. Laurel project which is nearly proven to be prospective because of Buru's well results in Fitzroy though is also under process.

The best part of the last presentation (Euroz Oil & Gas Conference) was the images of Core samples of McLarty-1 well (drilled in 1968)which was well kept for a long time. They were all given on page 20 of presentation.

The core sample (no.14) for Goldwyer Unit-1 (the bottom part) clearly shows a black shale with excellent TOC (3-3.6%) levels, while the core sample (no.13) for Unit-2 was showing a typical good shale with TOC levels of 2.4-3.6%.

Those are very good to excellent shales in shale business by looking. If we can find th same shales a Nicolay-1 location, that it is very high possibility even as tickher formations IMO, our shale business will be nearly proven after the DFIT (Dianostic Fracture Injection Test) will be done end of this year. Btw, we will test the Gibbs Maitland location right after Nicolay-1 and DFIT will be done for that one too.

McLarty-1 well drilled on Broom platform in 1968 by a total depth of 2590m down to ordovician unnamed sandstone formation (should be Willara fm). It is located at north of Nicolay-1 well (but on Broom Platform, at the north of Admiral Bay Fault Zone while Nicolay-1 well is at the south of ABFZ)

Here is the page 20 of latest presentation. You can see the shale core samples and the depths. The best part is Goldwyer Unit-1 and Unit-2 while Unit-4 is not that promising (Unit-3 is absent here). Core no.11 is from the Nita formation which is dolomite and could be oil reservoir IMO. No idea about Willara formation yet.