rey: the big hole in the hearth of canning !!!

BPT has released a presentation yesterday. It gives much clearer picture of the Nappamerri Trough section of the Cooper Basin which is the main BSGA is found. Unfortunately BRU is not giving the clearer picture of the basin as BPT does).

You can see the basin basemenet map and the structure on page 12 of BPT presentation below. And you can see that BPT's tenements are covering the deep section of the basin, not the edges.

This is also a very small area in comparison to Fitzroy Trough (not the whole of Canning, and not including Gregory Basin either)

The two tenements of BPT (gross) is only 3,270 sqkm.
(PEL218: 100% BPT, ATP855: 60% BPT)

REY's tenements are 10,600 sqkm (gross). (REY: 10%)

BPT net: 2,600 sqkm
REY net: 1,060 sqkm

Not big difference as it was seen on the stock price isn't it!

Whoever says whatever, REY's tenements are located at the best part of the basin. Here are the maps below.

BPT says; "we believe that so much gas has been generated within the basin that effectively the entire bottom section of the Trough is gas-saturated and held in place by hydrostatic pressure – what is called a continuous basin-centred gas accumulation."

This means that the centre-bottom part is more valuable in terms of prospectivity of shale gas structure. BRU is talking about the tight gas which is occuring at the flanks of basin, atm.

When we come to the shale gas of Laurel formation we will talk different things here. But firstly people should understand these gelogical settings.

Also, here is the new maps of Canning Basin I have recently made. The Laurel formation shown on the Fitzroy Trough and Gregory Trough is limted with the major fault basin boundaries. This is taken from EIA's map made for Canning.

You can see on this map that Buru's L11-1 is not much covered by Laurel formation. Even the Valhalla is close to the boundary. L10-7 and L10-8 is in the coverage however the basin is not that deep in that area.