Some negative news;
"After a number of unsuccessful attempts to engage and retrieve the lower section of the coring drill string a decision was made not to deepen the well for stratigraphic information and the well was subsequently plugged and abandoned by the operator".
And some positive news;
"To progress evaluation of the Moolayember formation a third well is planned for drilling approximately 17km to the west-southwest on the western edge of the southern Taroom Trough. This will twin an existing conventional petroleum well, Camurra-1, which intersected 8.9m of net coal in the Moolayember formation, including a 3.6m seam in the upper portion of the target. A fourth well in also under investigation to test for Permian age coal development in the southern portion of PEL 6 and follow-up on strong seismic amplitudes identified at favourable depths by 2009 Moree North Seismic Survey.
Money in the bank and some hope of finding coals and or hydrocarbons makes feel a little better about OIP now.
It seems one way or another,our drills just don`t get down too deep.
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