Let me try and break this down a bit for myself and please.....you older timers correct me of I am wrong anywhere ;
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3D energy is about to start seismic of its lease held right smack next door to the Thylacine and Geographe gas fields, which have a combined gas in place of over 2 trillion cubic feet of gas.
THESE ARE OWNED BY ORIGIN AND ORIGIN TRADES @ $14
Of particular note are the Whalebone and Flanagan leads which have a combined best estimate Prospective Resource of 7.8Tcf.
NOT SURE WHO PROVIDED THE BEST ESTIMATE BUT THESE TWO LEADS ALONE WITHIN T/49P EQUATE TO 4 X THE GAS CONTAINED IN ORIGIN'S FIELDS NEXT DOOR
T/49P covers an area of 4,960 square kilometres in water depths generally no greater than 100 metres. The permit is lightly explored covered by sparse 2D seismic data and has had only two exploration wells drilled, in 1967 and 1970.
SO VIRGIN TERRITORY HOWEVER I READ IN THE ANNUAL REPORT THAT GAS STRIKES RUN AT A 70% SUCCESS RATE IN THIS AREA. YES......70% SUCCESS.
To date at least 10 leads have been identified from mapping of the existing 2D seismic data, ranging from medium to large structures, and the combined prospective gas in place for these leads is 20Tcf.
SAY WHAT ? WE JUST WENT FROM 8TCF TO 20 TCF - THAT IS NOW 10 TIMES ORIGIN'S GAS RESOURCE RIGHT NEXT DOOR.
WHAT EXACTLY DOES THAT MEAN FOR THE POTENTIAL SP OF TDO IF THEY GET A WHIFF OFF THE GAS ?
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237.5M Shares
70% tightly held by top 20
Seismics commencing as we speak.
An outstanding opportunity is brewing here.
I bought in today at 085 and will be adding as and when i can .
TDO Price at posting:
8.5¢ Sentiment: Buy Disclosure: Held
