As our Peter says, exploration drilling is a learning...

As our Peter says, exploration drilling is a learning experience.

So we now know why we didn't get any regular updates, things didn't go as planned. But that is oil drilling, getting stuck in the hole is not totally unexpected, but we like to avoid it if possible.  
Good points
  Oil shows in Stuart Range is still good,and it seems like it maybe better than previously reported
  Oil Show in Boorthanna, is good news, just as a proof of concept, if nothing else. Confirms depth, temp and cook times are in the range, and therefore the potential is there for oil to be found in this formation in other locations.
  I suspect they had a cheap dumb iron drilling assembly (BHA) on the string rather than the all singing and dancing BHA the deep offshore wells would drill with, that can be worth over $1 mil. Therefore apart from the hole, not too much of value would have been left behind.

Not So good points.
One of the main objectives was to identify and prove the Pre-Permian to be 1/In place 2/ Carry to depth 3/ Oil bearing. Due to being stuck, none of these points have been verified. Remember this it the formation that has 80% of these potential resources, so it is very important to get an understanding of what is down there. It was interesting that the Stuart Range all of a sudden became the primary target, with the Pre-Permian as the secondary. I do not believe it had been mentioned like this before.
Eba #1 seems to be a learning experience as well. Expected formation top of Stuart range 549m, expected top of Boorthanna 631m, yet they are currently at 650 m and still in the Mt Toondina, above the Stuart Range. Now, they are looking for these formations to be deeper to allow more cooking, but to be 100 m out on prognosis at 650m, is a long way out. Hopefully we will be pleasantly surprised this time round.


As this is suppose to be the well with our "flowing Barrels", I am not sure where theses traps are suppose to lie. I suspect as the 9 5/8 casing is going to be landed at approx 1000m in the middle of the Boorthanna formation, then it is the Pre-Permian where the traps are expected?

   To sum up, presence of oil in the two smaller formations, Good
   Yet to prove the extent and presence of oil in the major formation.
   Though, the potential is still there to prove it in the next two holes.