Coaly source rocks in the Late Cretaceous have excellent potential for generation and expulsion of oil as well as gas with mean TOC values of 13-70% and average HI of 340 kgHC/tCorg, comparable to most Late Cretaceous- Tertiary coaly sediments in the producing Taranaki Basin. Relatively high bulk hydrocarbon and oil yields are partly the result of marine influence within the depositional environment. The most promising reservoir rocks are fluvial, estuarine, and marine sandstones within the Late Cretaceous succession. High flow rates obtained during Galleon-1 testing (2300 bbl/day condensate, 10 mmscf/d gas) indicate that good reservoir rocks are present in the Late Cretaceous succession.
DYOR DYOR (on holiday for 2 weeks-so no more posts lol cheers)
GGX Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held