Something to take note of fellas. See info from BRU's most recent presentation. The Derby block sits entirely over the Laurel formation.
"Laurel Formation is a thick, regionally extensive package of sands, shales and limestones with in excess of 1,300 meters of gas saturations in recent wells
• Mud gas shows over up to 2000m intervals in ten wells (two drilled by Buru in 2011/2012) combined with seismic mapping and gas recoveries in well tests, indicate significant accumulations in the Yulleroo and Valhalla gas provinces
• Gas is sweet with low CO2, no H2S and high liquids content
• Location of overpressure and maturity windows confirms regional extent
• Volumetrically very significant – tens to possibly hundreds of TCF of gas in-place, up to 45% recoverable with hundreds of millions of barrels of liquids associated with gas recovery"
Possibly hundreds of TCF of gas in-place.
OBL Price at posting:
7.1¢ Sentiment: LT Buy Disclosure: Held
