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New, thanks for taking the time and effort to explain Sweetpea, I appreciate it. I'd guess Inpex would be the logical bolt-on suitor, if things get to that point.
New, thanks for taking the time and effort to explain Sweetpea, I appreciate it. I'd guess Inpex would be the logical bolt-on suitor, if things get to that point.
Definitely better promotion with Empire! Sometimes that is much easier to do with a small cap stock that only has one "potential" future prospective resource to keep touting than a long established diversified company like Origin that can't ever be in the hype game! Falcon now takes the back seat on press releases to whatever Origin wants to put out for public consumption -- and that will never be anything but factual news that will often come out after the fact -- which is a real pain at times...........................
They are afraid of rocking the boat before the election, the wheels on the bus go round and round, round and round!
Better PR?
Darnitagain, a couple of quick comments on your good posts.
Sweetpea's three smaller permits in the Beetaloo are outside what the NT Mineral dept believes are the core areas with any significant levels of shale gas, plus Sweetpea will be at severe risk of losing their exploration permits fairly soon. Sweetpea is wholly owned by Petrohunter -- which is caught up in bankruptcy proceedings and will most likely never be a position to meet the NT guidelines for completing exploration work neccessary to retain their permits in any kind of good standing. At one time, Bruner was going to transfer those permits into another of his companies called Paltar Energy -- but Paltar has failed to live up to any of it's financial obligations -- so those permits still reside under Sweetpea/Petrohunter from the NT's perspective I believe (as with all things Bruner -- very confusing and complicated).
When looking at Empire Energy's -- "NSAI to evaluate prospects in EP187 which have a best estimate for "prospective" gas resource of over 2.3 TCF in the Velkerri Shale" it is worth remembering the significant size deferential for what Empire is hoping for on the outer limits of the Beetaloo -- versus what Origin has already declared as a discovery in Falcon's permits.
Origin has already declared 6.6 TCF of contingent resources in approximately 1/10 of the Falcon permits and a massive 496 TCF of gas in place over the Falcon permits -- with a "prospective" gas recovery potential of 85 TCF. These Origin numbers are so massive when compared to the much smaller 2.3 TCF of unproven resources in the Empire permits -- that I wonder at times what the fascination is with Empire?
The Netherland Sewell Empire evaluation sure caught my attention. Netherland Sewell is famously conservation in the estimates.
Commenting on the results, Empire Managing Director, Alex Underwood said:
"The prospective resources assessed by NSAI are exciting, with a total best estimate prospective resource of 13.5 TCF. This is a substantial resource for a company of our size. The results of Empire's recent 2D seismic program have enabled NSAI to evaluate prospects in EP187 which have a best estimate prospective gas resource of over 2.3 TCF in the Velkerri Shale and 14 million barrels of oil equivalent in the liquids rich Kyalla Shale. This represents a near doubling of Empire's Velkerri Shale independent prospective resource estimate and is the first time that the Kyalla Shale has been independently assessed as a prospective resource in our properties. The plays evaluated by NSAI in our McArthur Basin properties have substantial resource potential. Our exploration activity to date is yielding strong results and we look forward to continuing to enhance the value of our properties through measured exploration investment.