Ironbark - ready for tolling into NWS, page-16

...super helpful report, @Ovoidhead and @Crackity, ...answers some questions...

Now it's clear that the secondary TR14 sandstone is actually below 6,000m and even the primary TR17 sandstone might extend just below the 6,000m level.

Hence, our initial assumption was correct and they will drill the well to a TD of about 6,500m if they are successful in the primary targets at about 5,500m.




SRK calculated a chance of success of 25% (=0.85 x 0.7 x 0.85 x 0.5) for the well - but Structure, Reservoir and Seal, all are associated with a very high CoS between 70 and 85%. The remaining risk is the "hydrocarbon charge" and SRK gives it a 50% CoS. This is in my eyes the real figure for the CoS of Ironbark-1...



If the well is a success, we are talking a resource of 7.2 TCF (TR19), 10 TCF (TR17) and 4.7 TCF (TR14) or in total 21.9 TCF gas potential plus about 250 mmbbl condensate in the Deep Mungaroo target sandstones...





When we get the final report of the drilling results, it will also be interesting, if they found something in a shallower secondary Jurassic target (J29) at about 3,000m...

Cross fingers!!!