Sanjiaobei and Linxing on 3 sides of us now have gas discoveries and reserves.
Looking at the smaller Baode block beyond Linxing, it too has significant gas discoveries so this is why i beleive Leyshons block to have much reduced risk given our 56m and 80m payzones in 2 wells 4.5 miles apart, for the major gas producing trend to be missing on our block while it extends significantly around us on 3 sides and also with the producing Mizhi field also in behind Sanjiaobei.
"In the Baode block on the eastern edge of Ordos Basin, production test has shown that the block is characterized by early gas show, rapid production increase, thick coal seam, good permeability, and high bottom hole pressure, in addition to biogas compensation. All these suggest that it can be a major block to build CBM production capacity."
LRL Price at posting:
27.0¢ Sentiment: Buy Disclosure: Held
