NO NEED TO RAMP THIS PROSPECT.ITS ALL IN BLACK AND WHITE...
My favorite quote RE. Kate prospect ("JED-CLAMPETT-TYPE THING") exec vice president TAG OIL.
"Kate Prospect is a 15 sq. km mound that plays host to a number of thermogenic oil seeps at the surface, along its perimeter" TAG
"Kate is one of the most exciting in TAG's portfolio of exploration prospects," company president Drew Cadenhead "As a geologist, there is nothing better than seeing a big surface anticline with oil seeps."TAG
TAG presentation Drew Cadenhead about KATE oil prospect(200 million barrels) http://events.onlinebroadcasting.com/minellc/103106/index.php?mode=1&sel_date=2 TAG
"Perhaps the most exciting prospect that TAG currently has is "Kate", which is located in the onshore portion of one of our Canterbury permits. The Kate prospect is located at a surface "anticline" which is essentially a 15 km2 "mound", protruding out of the surrounding Canterbury Plains. A number of high grade oil seeps are visible at the surface along the perimeter of this anticline. The seeping oil has been confirmed as "thermogenic" A potential reservoir is located at approximately 1,200 metres depth and if this reservoir structure is full, TAGs volumetric calculations indicate as much as 200 MIILION BARRELS OF OIL may be associated with this structure. Initial 2-D seismic has been completed and has confirmed that the anticline formation continues at depth.”TAG
TAG geologist said, "there is nothing better than seeing a big surface anticline with oil seeps." TAG
Cadenhead said that if Kate-1 proved the existence of a viable oil system and that structure was full of oil, then the field could contain some tens of millions of barrels of oil. TAG
“The Kate Prospect is the one we’ve been most excited about, and now we have the means to start exploring it,” Mr Cadenhead said. TAG
The city of Christchurch is the largest city on the South Island of New Zealand and is situated adjacent to a deep water port at Lyttleton. Any oil discoveries made in Canterbury can be easily transported to Lyttleton for shipping to international markets.TAG
The company is particularly keen to go after its Kate prospect, an onshore prospect at Canterbury, said Brian Jones, executive vicepresident. “It’s sort of like the old-Oklahoma, Jed Clampett-type thing,” said Jones. “It could be that it’s just more sensible, given the geology, for us simply to identify an optimum drilling location and just poke a hole in and see what we get,” said Jones. TAG
GOOD IDEA how about MAY 15??
GGX Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
(20min delay)
