re:Waitsia

Thanks for you reply Al99
I tried to prove why the company said this is conventional and I used Tight gas as an example of the NATURE of deep exploration.

The order of deeper formations are: CSG (230-350m) Conversation gas (800-1200m+) Shale gas (2000m+) Tight gas (3000+) and Geothermal (5000m+)

Why the Dongara, Kingia and High Cliffs (DKH) are considered as VIRGIN structural zones of what is so called, sweet spots. AWE said this is a rare find in the last 60yrs exploration history in Australia.

In Western flank C.B. they found WET gas and in NTNG they found none of the present of water, DRY gas was found.

GWCs showed me that the structural in SA is damaged by reckless drilling experiences.

Waitsia-2 (W2) is drilled veryfar away from Waitsia-1 in southern. The purpose is to find out how LARGE the DKH present across the acreages.

The 100% pure conventional gas (2-4% co2) in DKH is about 300m deep (GWC 3432m - 3085m = 347m minus shallower water bearing)

A Tight gas saturated zone is 1000m deep in NTNG. It's called BCG

If W2 is proven to be the same GWC structure then the whole acreage is called Basin Gas Accumulation. To me it's similar term with BCG, the difference is the width against the depth.

Remember that you cannot go wrong with the water level. It's like the water table from CSG wells.

This water is trapped too far down the ground that's why it has very low rate of Permeability. Hence gas has nowhere to escape.
There's some good traps and seals occupied.

If this is correct then you'll know what will happen to my current holding in this stock.

I would say this is an conventional off-shore find and a COOL stock.