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clock Created with Sketch. 30/10/14
01:44
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Originally posted by deltatrader
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Let me try and break this down a bit for myself and please.....you older timers correct me of I am wrong anywhere ;THESE ARE OWNED BY ORIGIN AND ORIGIN TRADES @ $14 NOT SURE WHO PROVIDED THE BEST ESTIMATE BUT THESE TWO LEADS ALONE WITHIN T/49P EQUATE TO 4 X THE GAS CONTAINED IN ORIGIN'S FIELDS NEXT DOOR SO VIRGIN TERRITORY HOWEVER I READ IN THE ANNUAL REPORT THAT GAS STRIKES RUN AT A 70% SUCCESS RATE IN THIS AREA. YES......70% SUCCESS. SAY WHAT ? WE JUST WENT FROM 8TCF TO 20 TCF - THAT IS NOW 10 TIMES ORIGIN'S GAS RESOURCE RIGHT NEXT DOOR. WHAT EXACTLY DOES THAT MEAN FOR THE POTENTIAL SP OF TDO IF THEY GET A WHIFF OFF THE GAS ?
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DT you have articulated well the merits of TDO and T/49P where TDO retain an 80% interest with Beach Energy as the 20% partner....don't forget however they still retain 49% of VIC/P57 in the Gippsland Basin where the chance of success is indeed rated at 70%. It's not a day trade possibility at this time but rather an opportunity for those with foresight and patience to accumulate a position as I have been doing for some months.
