BUY 0.00% 0.6¢ bounty oil & gas nl

improving chart pattern, page-9

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    re: improving chart pattern - jocam Stock doctor, if you go to Hardmans website you'll see the map of region, including the leafcutter prospect.

    The area west of the Dongara field is regional high compared to dongara (faulted) and cliffhead and Hovea etc (inclined). Hopefully hydrocarbons have migrated into this high, oil from the north & west and gas from the east.

    The kockatea shales are the major oil source and seal to the north hopefully this is also true here. The Dongara / Wagina quality reservoir will be missing here but i've heard the lower sections of the Kockatea shales might be sandy enough to form a reservoir???

    Eric streigberg of ARQ said "Any good reservoir just below the Kockatea shales" is what's required and at Leafcutter the Beekeeper limestones seems to be located just below and it's a gas reservoir at Woodada. Not sure if it'll be a good oil reservoir?

    I think the main hope is the High Cliff formation .. how that's sourced for oil is anyones guess, possibly from the north and west, juxtaposed from the kockatea???? For gas, it could be sourced like Woodada just to the east or from the IRCM??? Remember Hovea has found gas in the high cliff formation

    There also seems to be a relationship between new finds and old large fields, suggesting Dongara, Beharra Springs and Woodada were regional highs along time ago that attracted hydrocrabon migrations. Gas in the crest and oil on the rims.????? (my interpretation only)

    They say estimated max reserves for Leafcutter at 16MMBLS recoverable, which is 50% larger than hovea. Apparently there are other structures along the trend also.

    If Leafcutter comes in it will open up the whole region - EP413P for sure! TP15 as well.

    On the downside, the lack of the wagina formation could be killer. They might find oil but nothing flows! The High cliff could be in a migration shadow and totally dry.

    Considering BUY is tight company that husbands it's funds very well and has a 25% stake in this, the potential is very good .... but as jocam has stated, nothing much happening after Leafcutter. If it flops, f/p will be hit but not like options which will very quickly go out-of the-money.

    A high risk/reward play.
 
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