BackontrackMy view is that it is next to impossible at this...

Backontrack

My view is that it is next to impossible at this stage to estimate the size of the discovery given there are so many unknowns. As per KEY's last presentation, this is a faulted anticline trap in sandstones estimated to have moderate to fair porosities.
For those who don’t know what a faulted anticline is, Google it! ………and any other technical terms I have used.
We have absolutely no indication of the horizontal extension of the trap (closure). We also don’t know the porosity. Both of which are critical in estimating the size of a discovery. All we know is it is 60m deep. For example, how can someone possibly calculate the volume of a cone if only provided with its height? It may be a very wide cone or a very narrow cone. Similarly, two 60 metre traps may hold materially different amounts of hydrocarbons depending on their areal closure and trap porosity. To make matters worse, KEY has never made public any seismic, which makes it even harder to visualize the size of the structure.

In my option, the depth of any other gas discoveries and the corresponding size of those discoveries are completely irrelevant.

It's frustrating, I know, but we will have to wait and see as we don’t have enough information to find a comparable discovery.


Peace,
Marxist