Encounter-1 well is pretty much on the border of BPT's PEL218 and ICN's ATP855.
Drilling started 3rd October and will take around 50days to complete ie around 22nd November give or take.
BPT stated there is approx 20-100Bcf/sqkm in the Nappameri Trough.
Equating this for ICN's tenement (which completely lies on the Nappameri Trough btw).
1670sqkm x 20-100Bcf/sqkm = 33Tcf - 167Tcf
MOU supply requirements - 2 Tcf!!!
As gassed mentioned, BPT's Cooper Basin Shale Gas Review is well worth the read.
Whether the MOU turns into a GSA or not, the granting of this tenement is massive news for ICN now.
Cheers,
The Sparkler
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