Just thought I would wet your appetite a little......... I have many old drill reports. This is part of one. What will our deep drill supply? Very important to note the last drill rig that went deep at Reids continually broke down and was never suitable for that type of work. Will not be the case this time around.. This is from an independent drill report 2004 - "Oil shows were recorded at several levels, with frequent gas shows" Multiple level GAS shows. Reids Dome PL - 231 is without doubt "The Real Deal". 4.1.4 Exploration History Reids Dome is a large elongated surface anticline trending north-south. It is almost 40 km long and 10km wide. The first exploration well by Australasian Oil Exploration Ltd (AOE), AOE 1, was drilled in the northern part of the Dome. This well spudded in the Cattle Creek Formation in August 1954 and reached total depth of 2761.5m. The well completion report states "Drilling was abandoned when it was apparent that the drill had entered a metamorphic zone." It is not known if this zone was due to contact metamorphism from a sill, or indeed was metamorphic basement.. Paten et al, 1979 indicate that the Reids Dome Beds exceed 3,000m in the Reids Dome area, based on regional studies. Based on seismic interpretation, it is inferred that the well was still in Reids Dome Beds at total depth. Oil shows were recorded at several levels, with frequent gas shows. Gas was tested from the Cattle Creek Formation and flowed at 0.550 mmcfd from the interval 136.6m to 142.3m. Methane content was 97.4 percent, with carbon dioxide 1.2 %, oxygen 0.5 % and nitrogen 0.9 %. Small flow rates were recorded from tests over intervals 822.7m to 827.8m and 1,359.4m to 1,364.6m within the Reids Dome Beds. Gas was recorded over the interval 2,350.0m to 2,353.7m, apparently from fractured shale. Attempts to test this zone were unsuccessful due to inability to move the test tools through a zone at 1,341.1m to 1,371.6m. Gas shows were also recorded over the interval 2,350.0m to 2,687.4m.
GAS Price at posting:
31.0¢ Sentiment: Buy Disclosure: Held
