Our MD is back from overseas - first day ack in office tomorrow...

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06/10/15

21:35

Post #: 16125913
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Originally posted by speculator101 ↑

Hey UZNBUZ, frustratingly I have not been able to find out much about the well. Going from nearby wells, the initial target of perhaps 2000 metres. As they are also drilling for a deeper gas target, I am quite unsure about what depth that is (but obviously deeper than 2000 metres). At a guess it may only take them 10-12 days to reach the first target. Please don't trade on the above guessimates!

Slightly off topic, but DLS mentioned the Marengo South-1, which is actually classified as a discovery with a 2C of 3.1 million barrels equivalent (gas). I am wondering why DLS did not drill this earlier, perhaps the BPT farmin is to make sure that a discovery at Hurron, will then ensure that a second well might be drilled at a know discovery at Marengo South. Looks to me like at least 2 of other prospects in the tenement, going purely from the diagram, which could contain upwards of 10+ million barrels equivalent.

2014 Reserves update DLS

Again, I think that the chances of a successful discovery are low, but as Auto mentioned, its free well with big upside. I like the fact that DLS is looking at about the same amount of wells to be drilled in FY16 as BPT, with its big brother having a market cap 3x the size. Punching above its weight I say!

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Our MD is back from overseas - first day ack in office tomorrow . I am going to call him to ask a few things and this well and the details I I can add. Any other questions let me know

DLS Price at posting: 54.5¢ Sentiment: Buy Disclosure: Held
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Our MD is back from overseas - first day ack in office tomorrow...

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