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Phone conversation with Scott - Jan 12th 2023., page-137

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Roch2077

10,189 Posts.

1986

18/01/24

10:45

Post #: 71938950
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Originally posted by butcherano: ↑

Permeability data is the most important piece of the puzzle that’s missing. If the two intervals in the UA which had 8% and 10% porosity have a corresponding permeability of less than 20mD then we have zero chance of a successful flow test.

Scott has a lot of data in hand right now to verify permeability in the UA and LA net pay intervals.

He’s intentionally not releasing this info which is the most important data for us to work out the potential upside from the upcoming flow test.

If it’s moderate or good quality then why not say so? This gives us hope of a meaningful flow test result.

I’m assuming it’s tight or poor quality reservoir at best and he doesn’t want to reveal anything negative. But even if it is, shareholders have a right to know.

In short it would be great if you can press him on reservoir quality. He’ll focus his response on this being a large structure and it not being representative and the usual deflection. But the fact is that he has porosity and permeability data (and reservoir pressures, fluid samples, etc.) from the exact locations in Mukuyu-2 ST that will be perforated for flow testing. They are highly relevant at those specific intervals, even if we will see better results later and elsewhere on the structure.

We as shareholders paid to drill these wells with the expectation that this would be the bare minimum level of information we would receive. Same as every other junior O&G exploration company on the ASX that has drilled and declared a discovery in the past 30 years that I’ve been following and investing in.

Expand

permeability is never released on discovery announcement that’s incorrect to suggest so. You will get it in coming weeks ahead when all data is analysed and put together

Samples flowed to surface unassisted using conventional sampling tools and it’s why Scott stated in his webinar that commercial flow is a given.

And just like Perth basin if they to fracking to improve flow rate that’s easily done. Either way it will still flow come next 3 months and hence why they spent 25 million dollars to pre predict the result and maximise the flow

Last edited by Roch2077: 18/01/24

IVZ Price at posting: 11.0¢ Sentiment: Buy Disclosure: Held
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Phone conversation with Scott - Jan 12th 2023., page-137

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Phone conversation with Scott - Jan 12th 2023., page-137

Top Stories

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Nimy to raise $1.21M to explore 'newsy' WA targets

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Week 27 Wrap: ASX hits all time high; CBA shares' two realities; US inflation hits 3% ahead of China plenum

ASX hits all time high out the gate on Friday trades following bullish US inflation data

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