When I read the last advisory, I like most others was perplexed in that there was no mention of what they found at the so called deeper target and I was subsequently disappointed. Ive been thinking about it and tonight I read through all of the Aus II advisories. I think most may have missed a key point.
On 30th May the well was at 10053 feet and had logged 200 feet of prospective rock to that point. In the last sentance of that announcement TB says they will drill ahead to 10700 feet which was later said to be bedrock. My point is there was no mention of drillng ahead to a secondary target, yet he had mentioned in the last sentance of the previous announcement on the 28th when the well was at 9441 feet, that they would drill ahead to a secondary target.
I just assumed the secondary target was between 10053 feet and 10700 feet. In fact I think the seconday target may have been intersected somewhere between 9441 and 10053 feet and is amongst the 200 feet of potential pay mentioned.
I could also be way off the mark!
SSN Price at posting:
8.4¢ Sentiment: Hold Disclosure: Held
