Thought it might be a timely reminder to show everyone a portion of Adrian's announcement regarding PS2:
"Carnarvon Petroleum Limited (“Carnarvon”) (ASX:CVN) is pleased to inform shareholders that operations at the Phoenix South-2 well have been safely completed and the rig has now left the drilling location.
The well drilled an estimated 39 metre hydrocarbon-bearing zone between approximately 5,176 and 5,215 metres with significant gas influx and elevated reservoir pore pressures. The well was unable to assess as much as 185 metres of additional potential hydrocarbon bearing Caley reservoir beneath 5,215 metres due to the higher than anticipated pressures being encountered.
The higher formation pressures encountered typically support both larger volumes and higher gas and condensate flows rates over a given reservoir."
Shows the staggering potential on offer for our PS3 well.
Spud date soon to follow.
*bold is my addition.
Right time, right place ... Right Assets, page-31
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