Waitsia-2 (W2) appraisal well is approaching Caryngina shale. This is another upside gas potential but It will be targeted in the future.
W2 is to TEST the southern extension of the Waitsia field in the Kingia and High Cliffs CONVENTIONAL gas prospects.
To my understanding so far that I have NOT noticed any similar "stacked reservoirs" from other states like SA Cooper Basin , WA Canning basin and NT Beetaloo sub-basin. Therefore this is extremely fantastic to me.
Will oil price head south with "new normal" from China's trade figure and industrial production which are out today. China's GDP will be released on Wednesday.
China is now world no1 oil consumer. If the figures are disencouraged then the whole ASX stocks will be greatly affected, NOT just oil stock alone.
Good chance to buy more on Wednesday.
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