" EXPLORATION POTENTIAL Waugh-1 is proposed as a test of the oil bearing potential of the Lower Triassic, Bookara Sandstone Well to be drilled to ~750m RT (rotary table) and target a potential of 1.7MMSTBBL in Lower Triassic, Bookara Sandstone with potential recoverable reserves of 3-5MBO. Bookara Sandstone is interpreted as middle to upper shore-face deposit, which laps the south-western margin on the Northampton block. It is interpreted as a moderate relief fault closed structure with top seal provided by the proven regional seal, the Kockatea Shale, which is the source rock for oil discovered to date in the North Perth Basin. The Kockatea Shale is the same type of trap that forms Dongara, Hovea, Jingemia, Cliff Head and Beharra Springs oil and gas fields."
Then join the dots on who has had some major Shale Gas success to the South
KEY Price at posting:
1.4¢ Sentiment: LT Buy Disclosure: Held