twist off and fishing, page-20

ok, don't shoot me.....

I saw my santos mate today, he is back from up north. He was armed with some ctp reports (I think my enthusiasm got him interested).

He said he showed the info to one of their geo's, who was not too impressed. He guessed Blamore is a 1 in a 100 chance of being commercial re oil. The coal gas is interesting, but the data to date means nothing without flow rates (but surely the fact that it's there is good, imo).

However he was very critical of the size of ctp's targets that the consultants have come up with. He said the problem is that there is not enough data to discount their 'high' target potentials. In the Cooper Basin, there is so much data available that it's easy to say that a target has a high side of, say, 1m barrels. But there isn't enough data available to give those sorts of low upside potentials. So it leaves one up to saying things like 71m barrels (or whatever).

That doesn't mean that 71m barrels isn't possible. There's no data to say that it isn't there. BUT there is no data to say it is, and it most probably isn't.

He was also critical of the high TCFG claims. Saying that again they are high claims, and probably only 10% to 15% would be extractable.

Also my mate said that santos has gas wells which are not producing atm, as they are waiting the demand to pick up.

My mate is back for 3 weeks, but will be in the office. He said he will talk to an 'expert' about ctp too, & let me know. If you have any relevant questions for him, let me know.

cheers.