estimate of the Geological Chance of Success
(GCoS, Kingia gas) for NED-1 is 74% 2
. Both Lockyer-2 and NED-1 in the success case will be cored within
the primary Kingia reservoir section and will be production-tested and completed for production.
NED-1 will also test for oil potential within the Arranoo/Dongara/Wagina formations as a secondary
objective, given that the North Erregulla-1 well (1967) recovered 38°API oil on test from low poro-perm
sandstones.
Reasonable risk, considering all the other info around.
Waitsia Reserve write-down : a warning sign for Lockyer Deep, page-5
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