I think I have already given the answer on my post above.
Yes I said that ATP855 of BPT-Chevron-Icon and ATP-940P of DLS-BG Group have less temperature than PEL218 but it still has much higher temperatures than PEL570 and PEL514 of Patchawarra Trough.
I also said that the Patchwarra formation's depth is much deeper (4200m) at that section (North-East) for ATP855 and ATP-940p at Nappamerri Trough than PEL218 of BPT-Chevron at the south-west of Napp. Trough.
Therefore BPT and DLS JVs still have to deal with high temperature and pressures.
You can see BPT's latest presentation (they don't give the depth markings, I am giving them with my red markings) most wells are being drilled down to Patchawarra formation as it is the main sources of hydrocarbons . We should understand that they made the mistake by considering that the REM sections would generate enough hydrocarbons for gas. But it didn't. They have realised it after drilling many wells and spending hundreds of millions.
Therefore no, they are looking to Patchawarra Trough. Magnum Hunter and NSE have realised the situation and take the biggest portion of AQO. Then Drillsearch realised it and tried to takeover Senex. But they couldn't do it.
Also, you can see that Chevron's share in ATP855 is only 18% while they have 30% in PEL218 which is hopeless for now. So we can see that Chevron is in trouble, but Drillsearch is attacking to Patchwarra Trough!
Where is Chevron then!
BPT Price at posting:
$1.71 Sentiment: None Disclosure: Not Held
DLS Price at posting:
$1.51 Sentiment: None Disclosure: Not Held
AQO Price at posting:
37.0¢ Sentiment: None Disclosure: Not Held
PGS Price at posting:
2.0¢ Sentiment: Buy Disclosure: Held
NSE Price at posting:
14.0¢ Sentiment: Buy Disclosure: Held
