montara & plover formations, page-3

The following is a timeline of selected Nexus announcements/presentations related to 'Leads, Prospects and Reserves' in the greater Crux Area;
Since the Crux2-STI, Nexus have been confident of their Field reservoir model.

--May 2006 NXS Announcement; Crux Contingent Resources = 71MMbbl Condensate and 1.9Tcf Gas
--October 2006; **Plover Sands Potential = 60MMbbl**; (refer to Investor Presentation 31-10-07 “slide page 20”)
--In January / February 08 the (Crux 3 and Crux4) wells proved the upper sands (Montara & Plover formations in AC/P23).
--22-10-07 AGM 2007 Presentation: Refer to “page 26” Crucis Seismic Footprint … which is the start of the following NXS Crux Field Volumes Statement:

Total Reserves and Prospective Resource
AC/P23 = 5.1TcF Gas and 175 MMbbl Condesate
AC/P41 = 1.3 TcF Gas and 45MMbbl Condensate

These numbers are repeated in the following Presentations and referred to as “Gross Resource Potential”
•AGM presentation Nov 07—“Total Reserves and Prospective Resource” “slide 24”
•Investor Presentation; May 08
•Investor Presentation; June 08 “slide 21”
•Good Oil Presentation; August 08 “slide 17”
•General Meeting September; 08 “slide 22”
The NXS Presentations from May to September 2008 each use the slide showing the “expanded” Montara & Plover formations, as first seen in the slide from Investor Presentation 31-10-07 “page 20”

Since the 31-10-07 Investor Presentation, all the related Presentations used the following Crux Area condensate resource potential values:
•Auriga Prospect = 35MMbbl
•Caelum Lead = 28MMMbbl
•Libra Prospect = 19MMbbl
•Octanis Prospect = 11MMbbl
•(May 08 NXS declared Reserves in Crux core field = 75MMbbl)
The number that keeps on getting under the “radar” is the 60MMbbl Plover condensates (part off is which now attributed to “Crux Core” Reserves).

AC/P23; Remember NXS are regularly promoting 175MMbbl potential …
75 + 35 + 28 =138 and add 20MMbbl (my BEST GUESS) for the Montara & Plover formations = 75+35+28+20 = 148MMbbl
Again best guessing NXS; either the Auriga Prospect and Caelum Lead must have better prospects than the NXS declared … or there is another “30MMbl Lead” in AC/P23.

Long winded but the Libra Drill needs to find "Montara & Plover formations" in communication with the Crux Core field.

Regards...
SharpE
Importantly
DYOR !!!!