http://www.karoongas.com.au/LinkClick.aspx?fileticket=i2lWfKGdjD8%3d&tabid=61&mid=388
I not that Ivor of Baillieu has been reporting on KAR for well over 3years, so I suspect:
a) he knows his stuff
b) he has a relationship with KAR
c) would not go out on a limb by saying the following, unless it was true!
EL&C Baillieu analyst Ivor Ries said that the partners taking samples indicates "a decision to production test would seem to be a near certainty".
"Had the drillers concluded that there was a low chance of achieving good flow rates at the Poseidon-2 well, core samples would not have been cut and the well would have been abandoned," Mr Ries said.
"The Browse joint venture has now satisfied itself that the Poseidon-2 well contains the Plover Formation A, B, and C sands in roughly the same thickness that presented at the Poseidon-1 discovery well."
From:
http://www.theaustralian.com.au/business/mining-energy/karoon-shares-up-on-expected-well-success/story-e6frg9df-1225809442266
signals positive for poseidon, page-5
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