pel/pela map nvg, lnc, ede, page-91

Interesting to know that Gustavson nor D&M ever got to see the samples first hand. Changes the scenario a bit.

I knew their estimate was a pure model from the huge numbers but figured that even a fraction of that number would be a huge find (1% would be 3b barrels).

The main obstacle that the market isn't particularly concerned about so far (from the NVG and EDE explosions) is that the oil will be hard to extract. Given salaries in australia are higher, so are machine costs and practically everything else, the costs of our shale extraction (especially if this is as you say, an immature field with no gas pressure to help flow) will be far higher than the US.

But what it will do is give value to the field (as opposed to entirely useless which is what LNC purchased it as).

Still feel us traders can have a field day with these next week and hopefully get us through the market drop which is sure to come sometime soon (9/10 weeks up last 10 weeks).