.55 interst in 200mbo prospect early april, page-9

TAG considered it its most exciting prospect. 2D shot in 2006 - anticline extends to depth.
Tag had a "risk valuation" for Kate-1 of US$245 million (NZ$336 million).
TAG geologist said, "there is nothing better than seeing a big surface anticline with oil seeps."
Thermogenic oil-ie not from an old car.
Initial 2-D seismic has been completed and has confirmed that the anticline formation continues at depth. A potential reservoir is located at approximately 1,200 metres depth and if this reservoir structure is full, TAG�s volumetric calculations indicate as much as 200 million barrels of oil may be associated with this structure"
GGX say upward of 25million barrels-TAG was saying 200 million if structure is filled.
Besides all that it is a drive up and drill secenario with minimal cost in this environment. 20km from major city.
dyor