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ajgeo

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30/07/19

13:54

Post #: 39760912
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Originally posted by rexsh: ↑

ajgeo,
ok thats fair enough

I am just going by what the CEO said:

posted by Mir911

i posted this on the 10th of july when they were nowhere near the wagina, i love this bit " the BW is expected to be encountered at ~4,100m" they hit it at 4102m & the rest look pretty accurate too .

from SN CEO

WE-1 TD'd at 4,065m in the Dongara sands and did not hit the Basal (lower) Wagina (BW), perhaps the upper Wagina but it can be difficult to discern the two. At the WE1 location (down dip of WE2) the BW prospect is interpreted to be sitting at 4,230m short of the depth of WE1 in 1990. At the current drilling location (WE2) the BW is expected to be encountered at ~4,100m. Beharra Springs (BS) is the only example of conventional gas producing from Wagina sands in the basin. BS shows that the same porosity preservation mechanisms that made Waitsia work were present in the BW and shows that the play elements required for the preservation of excellent reservoir in the KHC during the period of the Permian were still functioning at the time of early Wagina burial. Therefore what we see at the KHC on the seimic and correlate to Waitsia like attributes is possible in the BW....The BW target has a low chance of success for a few reasons. Apart from the lack of analogue discoveries outside BS the BW target at WE2 requires stratigraphic trapping, which is a more complex trapping geometry and higher risk of seal than the structural closures seen at BS. However, as Strike interprets that BS has produced significantly more gas than it was ever contemplated to have been there, perhaps there is an element of strat trapping going on at BS that was or has not been picked up on. The rotary lie detector is on site so we should know conclusively the answers to the above.

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No problems. Fingers crossed. I hope it flows, would be good for the basin, good for the industry good for WA and most of all good for shareholders!

STX Price at posting: 12.5¢ Sentiment: None Disclosure: Held
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