Again that is a very rudimental interpretation and I have to question your motives of commenting here. I'm all for contrary opinions based on facts but the fact that you are only commenting on this forum as a non holder in a negative manner with what appears to be a limited geological understanding of petroleum geology has me curious. Especially when considering this is a stock that has only risen 12.5% based on the news and you have been absent on other stocks outside of the Beetaloo Sub-Basin that have seen gains of up to 200% on the same news.
To reiterate, have a look at the figure below and you can see that the grey shaded area is the extent of 'known' prospective source rocks, they are known due to extensive exploration and drill testing. There is also a grey dashed line extending outside of this encompassing BUL, AJQ and EEG tenements which is the potential extent of the greater McArthur Group. This is an unknown quantity as it has been largely unexplored and poorly defined by drilling. It still encompasses a prospective sedimentary basin with thick stratigraphic sequences buried to sufficient depth to produce both oil and gas which has been delineated through aeromagnetic and seismic surveys.
BUL Price at posting:
13.5¢ Sentiment: None Disclosure: Held
