Of course as we know from the 2010 drilling fiasco there doesn’t need to be any oil or gas at all for a nimble trader to make money I did last time just don’t get too greedy would be my advice.
I don’t think the people over at Santos would pass up on a prospect so close to shore NSW and the various infrastructure if they had the same conviction that Mr. David Breeze talks about. Apparently they spent a lot of time deciding on the best place to drill over PEP11 and the term Unrisked whilst not actually a word may sway a few unwary new oil / gas invertors unfairly in my opinion.
This very long and detailed presentation to the market causes me at least to think with all these wonderful prospects how come the common denominator is failure!
The difference in the cost of a 2D and 3D survey is not particularly great in my opinion I suspect the 2D may be enough to reignite interest whereas 3D may reveal more than DB wishes to know! The idea of an oil or gas field as a possible extension to the bottom of the Hunter Valley coal seams is indeed tantalizing.
As I said before I don’t wish to dampen your or others enthusiasm just please make sure you go into this will your eyes wide open; there is lots of information around the public domain and I encourage your own full and due diligence research.
From the link:
Structural Leads Focus “The Newcastle Syncline is probably the best place to explore for oil or gas the syncline contains the thickest and most for oil or gas ... the syncline contains the thickest and most complete Sydney Basin section (possibly including Triassic section)”
Santos (1991) identified a total 10 structural leads in the PEP 11 Santos (1991) identified a total 10 structural Leads in the PEP 11 offshore area......”Baleen position indicated Ampolex (1992) identified the Baleen.
South Lead as one of their major targets Unrisked reserves were estimated at 1560 BCF major targets.
Once again just my thoughts shared in good faith I just feel compelled to let people know what they are getting into. Clearly a great deal of work goes into putting these types of great story market presentations together; one wonders if the same amount of work went into the actual search for oil and gas the company could be more successful.
Good luck to all holders after all you don’t actually have to find oil or gas to prosper these days, ask David Breeze if you doubt me!
It’s often claimed that Abraham Lincoln said the following I guess we may never know but at least the sentiment rings true:
“You can fool some of the people all of the time, and all of the people some of the time, but you cannot fool all of the people all of the time.”
Bearing the above quote in mind has anyone any interest in buying a 5,314,626 block of fully paid shares in Molecular Discovery Systems Ltd? David any interest at 5 cents each particularly as we are now truly on the brink?
I don’t hold any shares at present; however, I will watch with interest and see what kind of job they do on the hype and what words they come up with to replace Unrisked and I might even have a punt myself!
Cheers and very best regards: Andy
MMR Price at posting:
4.6¢ Sentiment: None Disclosure: Not Held
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