junior oilers dec 14/15 part 2, page-23

  1. 539 Posts.
    re: junior oilers ...for yogi/pj There is no doubt the Perth basin will be very interesting over next two months. Arq is my preferred safer play due to the pools they believe they have. They are valued now on known Hovea reserves which , on current drilling H4 and H5, may actually get some of the 3p reserves. Once Hov 4 is complete and online the full extent of the increase in resrves should be known if any-so there is definite upside val on just hovea. Remember this is oil they are already trucking for sale-quality very good.

    After this drilling they are looking at another well -Eremia-this is a similar size pool to Hovea-one report has this beginning after Hovea 4 which would be early Jan. This is a target 2km from Hovea and importantly appears to have had 3d completed on it. One brokerage firm ascribes upto 60c if eremia sucessful.

    However the point is with Arq that they have more structures like Hovea 4 and eremia which will be drilled progressively over the next 12m-

    One other unrelted point to factor in for Perth basin watchers is that Apache have farmed in to the northern part of the basin-if the basin continues to be successful both onshore and offshore there will be a cleanup of the smaller players percenatges or even companies.

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