Used Moggie.
I will reply even though I suspect you do have very strong links to the Mosman campaign.
I will reply once and absolutely will be polite.
1 - The SRK report extract released by Mosman on AIM was all of 2 pages.. Of these 2 pages there are nothing but assumptions and best guesses on 2 graphical P10 P50 P90 MEAN estimates.......One would have most cetainly expected that SRK consultants would have been seeking outside expertise after seeing these figures come out of the hat ? They are not Oil and gas modelling experts and never have been, their own website acknowledges that, they are Mine and Ore reserve modelling experts where their main field of expertise lies, I do assume however they were very very cheap ! ( that is my assumption and not fact) as after all , all they have done is review existing well data which was all deemed uncommercial and nothing else. ( AS PER YOUR REPORT) I acknowledge times and expertise change and certainly in the indutstry I am in things that were uneconomical 10, 20 ,30 years ago are not now... But world beating super giant gas reserves do not come out of a hat on the back of a fag packet on exisiting un commercial well results from 20-80 years ago ( which is what we have) .... Never Have I seen this anywhere in my 32 years in the indutry and am asking around , and noone I know has - ever...full stop.
2- Read the report , this is who collaborated it... in house QA / diligence in the WORLD BEATING GAS RESERVE figures by none other than your own director
Competent Person's Statement
The information contained in this announcement has been reviewed and approved by Andy Carroll, Technical Director for Mosman, who has over 35 years of relevant experience in the oil industry. Mr Carroll is a member of the Society of Petroleum Engineers
3- There has been absolutely NO seismic done on Murchison ever to the best of all my investigsation there have been 4 wells drilled going back 1927, 1965 .1970 , 1988 ALL were uncommerical and showed minimum hydrocarbon shows albeit some with high pressure...The permit was picked up by Mosman very cheaply.. Mosman have done NO Seismic evaluations 3d , 2 d OR any other outside/ independently collaborated geo technical studies to date , except give some figures to SRK conusltants from the previous 4 unsuccessful wells..... and look what we now have. My goodness I am going to start believing in the prosperitiy of rainbows and what lays at the end of them next !
4- I am an expert on tight gas yes and you will most CERTAINLY need to Frack to extract if its there at all, what do you think tight reservoir means ?
5 - The world loves Fracking , even more so in in a nature area on New Zealands South Island . no issues there then....
6- Do you know what sort of money you would be talking about to move a gas resource downstream from Murchison, even if there was gas that could be produced by Fracking, it would be 10 years away before the downstream facilities , the environmental approvals , etc etc ( if they were ever approved) and the money was all in place before any of this was monitised.... - see ASX LNG , to see how long these things take and they are 5 years ahead of you and have significant REAL assets that have all been acutely scrutinsed by world class experts.
7- What do you see for a well cost in Murchison , they have never given that information, and they dont really need to as their fan base on AIM would not have a clue any way, however I suggest you can use IADC or SPPE`s etc to benchmark deep flank well costs which require stimulation or fracking to flow from tight reservoirs.... Its all there, however im not telling you that, look for it yourself and do your own DD as obviously your expertise in this sector seems limited. I can assure you 500k wont even get you a top hole section in a tight hole , tight reservoir drill... ( look it up ) so where is the money coming from then ? You think a JV or farminee is simply going to be falling over themselves to be a part of this dream ?, Mosmans / SRKs numbers better stack up as these will be put to real specialised Oil and gas modelling/ contingency resource experts ( you know the real ones the mid tiers and the majors use) and only then if they see promise in the field and want to be a part , any farminee or JV will absolutely demand a seismic, enviromental and commerical feasability study before committing massive amounts of money it would require to drill... absolutely 100% , even more that in this current climate.
8 - I know MSMN is not LSE forum, however the posters on there are not only lacking of expertise in the sector ,they are also mainly extremely repugnent if you want my view (my view only) only after getting rich as quickly as possible..... And if that is any indication of the holders we would be introducing to MEO, absolutely no thanks..
Have a good day, I will not enter into debate with you on this, .... suggest you do some research and start asking some questions of your board.
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