retraction on pel 428s hoskisson coals

Holy, second et al

This is by way of a retraction .. and maybe just maybe an apology to OIP/ESG:


I'm afraid that perhaps Holy you have come to an incorrect conclusion on the Permian coal prospectivity in the southern part of OIP's PEL 428 .. and I have then made the same mistake .. but have now discovered our error.

The problem is ... a closer inspection of Figure 1 (enlarge to see detail) in the Strike Oil report that you pointed us to (from 2001):

http://www.pesa.com.au/Publications/PESA_News/oct_01/nsw_supp/strike.htm


... shows that the area marked as having Permian CBM Potential WAS part of Strike Oil's PEL 428 ... BUT ... that part of PEL 428 IS NOT part of OIP's PEL 428 today!! It is in fact in Santos's PEL 450!!!!! They have some nice thick Hoskisson seams don't they!!!

Looks like my original interpretation of Kurrabooma as being to assess the western edge of the coal deposits may be correct .. as the Figure 1 above shows that it would have been just on the edge of the Bowen/Surat/GB coal fairway that is marked with a blue dotted line.

Apologies all! There remains the questions of the go-slow on gas contents, the fact that there has been no drilling of the Permian coals (MC) in PEL 427 adjoining Edgeroi, and the board stoush/fiasco .. and ESG's long-term intentions for their pup.

H