John operates on Perth time. I am happy to hang around to see what they have but I am not going to get excited about the oil till they find it. Sounds like the whole of central Australia may sink if they take all this oil out. LOL
020908 The new Devonian - Jurassic Madigan Prospect Simpson Desert Central Petroleum Limited (Central) and Joint Venture Partners Petroleum Exploration Australia Limited (PXA) have an active drilling programme under way in the Pedirka and Amadeus Basins in 2008 A study of recently acquired seismic in the Pedirka Basin area synthesized with older vintages of seismic has allowed the definition of a new Devonian to Jurassic prospect, the Madigan Prospect, straddling the boundary of EP 93 and the Rawson Resources Limited EP 97 Simpson farmout block. The Simpson prospect block in EP 97 is the subject of a farmin deal with Central, Rawson Energy Limited (RAW) and PXA being joint venture partners at Participating Interest levels projected of 65%, 20% and 15% respectively. The Madigan Prospect has Undiscovered Oil Initially in Place (UOIIP) potential of up to c.500 MMbbls (SPE) at “high” estimate. Central is assessing contingent plans to drill the Madigan Prospect after the results of the Simpson 1 well have been assessed.
Good luck to all fellow roller coaster riders.
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