It is similar in structure to the nearby Mereenie oil field which has been in continuous production for almost 20 years.
We need to squash this furphy once and for all!
It is NOTHING like Mereenie geologically. It's the same source rock, that's all. Mereenie is a conventional anticlinal trap with a reservoir and cap rock. J-2 is targeting the source rock itself, which is not going to produce another Mereenie.
It'll probably be a tight shale oil play that they will need to frac.
Also, Mereenie is only producing about 300 barrels a day now, it's nearly run dry. It's only the gas production that's keeping it going.
Sorry for the rant - but investors need accurate information and analysts SHOULD be providing it.
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