Strike - undervalued despite company-making announcement, page-111

NO, Tooter - this is not correct!!!

The NWE theory sees an estimated free water line between 4,458 - 4,620m ss and best estimate is: 4,560m ss at the Lockyer prospect location.



Your beloved clowns of the WGO board are guessing about a GWC at 4,635m.
This is below the NWE estimate!!!

Facts for the Erregulla fields are:

• WE-2: 22m gross and 10m net gas pay (10.3% porosity) in High Cliff sandstone at 4,661-4,683m ss (deepest proven gas so far)
• WE-2: 67m gross and 58m net gas pay (14.3% porosity) in Kingia sandstone at 4,533-4,600m ss (below NWE FWL estimate)
• WE-3: 60m gross and 38m net gas pay (13.8% porosity) in Kingia sandstone at 4,548-4,608m ss (below NWE FWL estimate)
• WE-4: 155m gross and 28m net gas pay (11% Porosity). Top of Kingia sandstone at 4,641m ss. 75m perforation from 4,590-4,665m. Flowed 35mmcfd and 50-37 bbl/mmcfd water => source interpreted as a perched water lens against the impermeable bitbasher shale

Picture: Kingia sds at 4,646m ss (= 4,903m MD at WE4 location): where is the water??

• WE-5:183m gross and 32m net gas pay (10% porosity) in Kingia sandstone at 4,544-4,727m ss. 6m perforation (#1) from 4,641-4,647m ss (below the interpreted GWC) flowed gas to surface. Flow of up to 13.1 mmcfd from the combined 31m perforated interval between 4,613-4,647m ss. Gas flow restricted by a well completion failure.
• SE-1: 52m gross and 14m net gas pay (13.3% porosity) in Kingia sandstone at 4,580-4,632m ss.

We have at least proven gas in WE-2 and WE-5 (and likely in WE-4) below the by WGO interpreted GWC and all these findings plus SE-1 are making the case that the NWE estimates are either much too conservative or are not applicable to our fields...


Tooter = nonsense