200million barrel onshore poss 50 plus bagger, page-34

Why KATE-1 prospect is excitng for GGX

Facts:

*GGX have 55% interest in this drill
*Large surface anticlinal trap feature(15sqkm) that extends to depth with potential to hold 200million barrels of oil ,if oil is present(TAG estimates from 2D seismic)
*High quality thermogenic oil seeps and gas around the perimeter of this surface anticline(a classic scenario)
*Onshore with existing heavy transport routes close to major city means ultra cheap drill(600k-1.5mill)
*Late cretaceous broken river coal formation source rock have comparable petroleum generation characteristics to most Late Cretaceous-Tertiary coaly sediments in the Taranaki basin and south Australia(once joined)
*Wildcat drill so as usual a 1 in 10 chance of success. Success= SP goes to $ 3.00- $5.00 ie multi multi bagger)

Please DYOR.