Read reports for 9/12, 16/12 and 30/12/11 regarding AusII wells. 9th report talks about permeability, 16/12 talks about porosity and 30/12 talks about lthology about horizontal lateral which is both porous and permeable. It also says the geology is comparable to producing Bakken wells.
The only info not revealed is the formation pressure - the higher the pressure the more productive it will be. They have only told us that it is over pressured (unlike niobrara which is normal pressurized and thus requiring experimentation with various types of pumps).
SSN Price at posting:
10.0¢ Sentiment: LT Buy Disclosure: Held
