montara & plover formations, page-4

Just to re-inforce the thread theme, the following are key comments by Nexus (Ian T), in the Annoucement made back on the 19-3-2008 #Substantial Increase in Crux Field Reserves#; in that annoucement it contained plenty of a detail which can be related to this current Libra drill:

•Both the Crux-3 and Crux-4 wells intersected previously unseen younger Montara Formation gas-charged sand overlying the older Plover and Nome Formation sands which had been seen in the earlier Crux-1, Crux-2 and Crux-2 ST1 wells. The Crux-4 well successfully appraised the previously undrilled South East horst block in the field.
•The results from these wells have been incorporated into an updated top reservoir map, which highlights the potential for the Libra and Auriga prospects to form part of a much larger Crux accumulation. This will be tested by the upcoming Libra-1 well to be drilled in exploration permit AC/P41, scheduled to start drilling in May 2008. Nexus will provide a further update on the Crux area resources after the Libra-1 well is drilled.

•Confirmation of Reserves Increase Announcement 23 April 2007 Nexus managing director, Ian Tchacos said, “The confirmation of the increase in reserves following the successful Crux-3 and Crux-4 wells is a significant milestone in commercialising the Crux liquids project.”

“The reserves quoted in this release are limited to the Crux liquids development area and do not include the very prospective near field exploration potential in AC/P23 and the adjacent AC/P41 permit which will be appraised during the coming year.” “We learn more about the potential of this exciting gas and liquids resource with every well we drill. Nexus is looking forward to potential further increases in its reserves base via an active drilling program in AC/P23 with our joint venture partner, Osaka Gas, and the imminent start of a drilling campaign in AC/P41 with our 50/50 partner, Shell.”

“The exploration drilling program during 2008 within the AC/P23 and AC/P41 permits has the potential to more than double the current gas and liquids resources, thereby potentially defining a LNG project scale gas resource at Crux as well as additional liquids Reserves, which could be incorporated into the Crux liquids project.


Regards...
SharpE

DYOR!!!