8 Patersons Oil and Gas Review - May 20112011/12 Key Events...

8 Patersons Oil and Gas Review - May 2011
2011/12 Key Events Look-Ahead
Exploration aside, there are a number of other key milestones and appraisal programs which should provide catalysts through 2011.
The following is a summary of the key events for the year ahead for both covered and monitored stocks:
ADE (Appraisal of Nappamerri Trough Shale Play) - ADE is highly leverage to the results of the upcoming frac and production testing of the Encounter-1 and Holdfast-1 wells, targeting multiple horizons that are located within the prospective REM sequence. Core analysis has provided early encouraging results with operator BPT estimating 40-80tcf of potential gas in place in PEL 218 alone. The frac program will target up to 8 zones per well to test the flow potential of these zones. This will be followed by contingent resource certification in Q3 which will be a major catalyst.