"The gas water contact has not been penetrated, indicating the potential for additional gas below the total depth of Poseidon-1."
"...interpreted gross gas column for the structure of over 430m."
Sounds like good chance of over 7 TCF. Possibly much greater than 7.
If Kontiki-1 comes in as gas discovery, watch out for share price. It will rocket. I remember reading in a broker report that Kontiki-1 is a low-risk well. Also, broker report by Merrill Lynch recently stated that success at Poseidon-1 derisks the rest of the Browse drilling.
What a great stock. First well has come in big time. This, plus the chance of it being taken over, should put a floor under the share price.
poseidon-1, page-9
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Last
$1.87 |
Change
-0.025(1.32%) |
Mkt cap ! $1.498B | |||
| Open | High | Low | Value | Volume |
| $1.86 | $1.87 | $1.84 | $8.261M | 4.448M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 5493 | $1.86 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.87 | 48154 | 5 |
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| Last trade - 16.10pm 19/07/2024 (20 minute delay) ? |
| KAR (ASX) Chart |