The Palta-1 prospect lies deeper in the stratigraphy than the oil fields closer to North West Cape (i.e. in permits WA-25-L, WA-28-L, WA-32-L, WA-35-L, WA-36-R, WA-42-L and WA-43- L). The stratigraphic depth of the prospect indicates that heavy oils are not possible and that Palta is expected to be a gas prospect, potentially rich in condensate
that last line is a nice one.
OXX Price at posting:
16.0¢ Sentiment: None Disclosure: Held