ep 437 north perth basin shale and oil?

Ive been impressed with KEYs slow and steady rise which has looked like possible accumulation for 2 weeks now as its been rising but not enough to show up on any scans for a breakout

This stealth rise makes me think someones been accumulating possibly but why?

Ive been doing some research this morning to try join the dots and I have a theory

First this post by Sundray 70

"Hmm, no news?
I should have read the newsletter from our JV partner in EP437.
The Dunnart-2 well is the likely first well to be
drilled with all approvals near complete."

Then I did some research on this Dunnart-2 well and the permit and heres what I found

http://www.keypetroleum.com.au/project/ep-437/ep-437-waugh-1

" EXPLORATION POTENTIAL
Waugh-1 is proposed as a test of the oil bearing potential of the Lower Triassic, Bookara Sandstone
Well to be drilled to ~750m RT (rotary table) and target a potential of 1.7MMSTBBL in Lower Triassic, Bookara Sandstone with potential recoverable reserves of 3-5MBO. Bookara Sandstone is interpreted as middle to upper shore-face deposit, which laps the south-western margin on the Northampton block.
It is interpreted as a moderate relief fault closed structure with top seal provided by the proven regional seal, the Kockatea Shale, which is the source rock for oil discovered to date in the North Perth Basin. The Kockatea Shale is the same type of trap that forms Dongara, Hovea, Jingemia, Cliff Head and Beharra Springs oil and gas fields."

Where is EP 437 located? North of Dongara

Who has had some major shale gas success to the South of Dongara?

Join the dots but to me maybe people are getting set ahead of this next well and the recent success by NWE/AWE to the South is the kicker?