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possible riches ..... comes with the usual risks

  1. turbiditic

    479 Posts.

    Still looking at this one.

    Next target is Cobboboonee with recoverable 40 million barrels of oil.

    From the prospectus "The company believes the Portland Trough in the Otway Basin is a close analogue of the offshore Gippsland Basin" ..... they also suggested "...... potential to discover hydrocarbon reserves in excess of 200 million barrels of oil and 500 billion cubic feet of gas."

    From what I read, some results of their seismic exploration will be available later this year. They have the funding for the next couple of years.

    Seems there is plenty of time to get in.

    any comments???????

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