Peter - I have just finished researching the ENB and UIL ground - there is a WA geol survey report dated 1995 which assesses the Perth basin hydrocarbon potential and discusses many of the old wells in detail - very informative and shows quite clearly that in both cases for the ground that ENB and UIL hold the Formations that contain the Waitsia discoveries are deep - at least >4000m from I can see. I suspect that the maps showing conventional targets for both ENB and UIL could be either Waitsia types but very deep or shallower Jurassic Triassic targets like in Waylering 1. For UIL Coomallo 1 well sits in the NW corner of EP447 adjoining EPA61 which bottomed at 3526m in Cattamarra Coal Measureswhich is high in the Stratigraphic sequence well above Waitsia targets.
Ocean 1 in ENB,s ground likewise bottomed in Cattamarra Coal Measures at 3840m.
You will note the Waitsia well just drilled total Depth was 3507m and drilled the complete stratigraphic section into Lower Permian sections - the High Cliff Sandstone What this means is that AWE's ground contains the good prospective lower stratigraphy in a much higher position than those to the east and SE.
AWE,s tenements trend SSE in what appears to be on the trend of the higher prospective stratigraphy and the bulk of the tenements to the east may have the lower prospective stratigraphy at a significantly deeper depth - so more expensive to drill and what does the deeper burial mean in terms of hydrocarbon potential I am not sure.
so in many ways it is not a straight apples vs apples comparison
this does not recommend or otherwise the validity of ENB or UIL's ground to host significant Waitsia type resources - but it does show they will be deeper.
UIL Price at posting:
5.1¢ Sentiment: None Disclosure: Held
