going on from what I have previously described that oil has migrated southward along the tasman ridge....... As this oil pathed south through maui it filled our Maari to spill point... well, not spill point no more.. hehe...
This spill point is a very good signal because over flow of Maari continued trending south...South towards Matariki...
"flowed further south on the fairway along the ridge until it reached the shallower (1000 metre-deep) Matariki"-quote Todds...
on paper, and seismic analysis Matariki is a Maari look alike...
The reservoirs are expected to be similar to those at Maari, namely the Miocene Moki Formation and the overlying oil bearing M2A sandstone...
The important question is, does our Matariki prospect have a sufficient oil trap? well, I just dont really know...
The answer to this question lies somewhere in the Manganui Claystones- top seal above the double stacked Moki sands of the Matariki prospect... This is an important area amongst others for further research because top seals prevent vertical migration of hydrocarbons out of traps... ...
In this rather secretive industry, where information can be hard to find, sometimes impossible, where everythings down played... where upgraded reserves usually dont surprise.. all this means something when theres a real buzz about Matariki... the fact that the Todds have made reference to oil migration (oil charge from East Maui sub basin) passing by Matariki...that the Geological Society of NZ highly rate Matariki...that I showed the same hazy gas on Matariki seismics to Maari seismics... that we knew Manaia was underfilled because it was west of migration path, and that updip sweet spot would flow... That we now understand why north Tasman-1 was dry because once again, it was off this important fairway...(note Matariki is bang spank ontop of this fairway as is Maari)... tasman-1 on this fairway another well also failed, (and this to is the big Matariki risk) fault leakage.....
Matariki is the gate to open up our other leads and theres a pretty good shot we are going to pull off double the size of Maari at 4 times the stake..... The drilling of Matariki is still a year off... appraisal well feel about it... im not going anywhere... top 5 E&P ASX here we come... with WA and everything else to fall back on... lets roll out more big target drilling... this is the gambling part of our business... but its stacked in our favour... and this 35cent stock proves it... one buck, you watch me...
OXX got a tasty permit in the mix too...
.^sc
CUE Price at posting:
34.5¢ Sentiment: LT Buy Disclosure: Held
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