DLS drillsearch energy limited

Attached are the results of the "highly successful" wet gas...

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    Attached are the results of the "highly successful" wet gas campaign with STO:

    Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7
    0 Well # Well Success Depth (m) Patchawarra/pay (m) Tirrawarra/pay Unconv. Potential
    1 1 Varanus South-1 Yes-wet gas 3,154 365/18 379/9.0  
    2 2 Yarowinnie South-1 Yes-wet gas 3,142 410/15    
    3 3 Aquamarine-1 No-sub comm. n/a n/a    
    4 4 Nulla North-1 Yes-wet gas   251/4.8    
    5 5 Kyanite-1 Yes-wet gas 3,354 534/24.2 59/8.5 yes
    6 6 Spinel- 1 Yes-wet gas   510/11.3 58/2.5 yes
    7 7 Emery-1 Yes-wet gas 3,262 533/18.6 37/7.7 yes
    8 8 Moonanga South-1 Yes-wet gas 3,177 518/4.3   yes

    Also attached is results of the Raven-1 well drilled by STO in 1999, which is still on production:
    Column 1 Column 2 Column 3 Column 4 Column 5
    0 Well Drilled Success Reserves (2P) Production test results
    1 Raven 1 1999-SACBJV Yes-wet gas ~80BCF 9mmscfd/165bblc/d: 10m interval/0.5'' choke

    I noted in the STO 2nd Qtr. announcement that the wells 6-8  were reported at 100% STO interest in the exploration section.

    The above results on the 8 wells suggests that the Wet Gas business is worth some big money.  DLS needs to firm up reserves required for the STO contract (~270PJs).  At $3-4/GJ, we have some serious well head revenue to book over the next 10 years.  If DLS can secure anything above the 270PJ, I could see an outfit like TOTAL having a look.  DYOR
 
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