pukeko - technical read, page-9

re: pukeko - technical read 27/5 FYI . Posted on site in NZ , ;) SALTY

Another note of significance. The predrill depth conversion through the horizons of interest (Kapuni Sand Group and below) seems to have almost exactly spot on.

Specifically, the predrill C sand intercept was given as about 3300m and predrill TD was set at 4200m within basement. In fact, upper C sand had shows from 3285m and basement intercept was 4175m with TD 4191m. So assuming that the actual C sand intercept was slightly less than 3285m, and actual TD was slightly less than the predrill estimate, that makes the predrill estimate for total thickness of the lower sedimentary layers (C sand - top of basement) as almost exactly correct.

From uncertainties as inferred from drilling and media reports, perhaps the actual picking of particular horizons within this sequence have varied from the predrill prognosis, however this is of no great consequence. What is important is that the predrill estimates of area of closure and heights of relief within the Pukeko structure will have effectively been confirmed by this result.

The predrill estimate for maximum relief within the C sand was given as approx 40m and the height of today's gross column as encountered was 105m [refer to previous posts for inference that lower horizons should have greater relief than the upper horizons]. This means that this result is wholly consistent with this gross column of hydrocarbon shows actually occurring within closure.

Likely implication - that the hydrocarbon shows as established within the 106m gross column are indicating the occurrence of some hydrocarbon accumulation.