So the florescence found was "Dull pale brown even fluorescence". From the reference it looks like fairly heavy oil. I will take a stab and say the Stuart Range shale just falls in the range for oil production. As the cooking temp increases the oil gets lighter, eventually turning to condensate and them gas. Hopefully the deeper formations will have been subject to slightly higher temps to get to the light oil stage. A lot of the US shale oil is actually condensate, and at the very edge of being called oil.
The current depth is 1600m, with the Pre-Permian due before 1820m. Obviously no shows in the Borthanna yet, as we would have been told, but as I said before, the Pre-Permian is the main play and the least understood. The next few weeks will be telling.
LNC Price at posting:
99.5¢ Sentiment: Hold Disclosure: Held
