Stavros- This is the offshore Flinders-1. This is new information and was not known a month ago. I heard the same but must have been inacurate as this is their first well. See http://www.oilsearch.com/Investor-Centre...ports.html
Also see http://www.oilsearch.com/Media/docs/1305...f71d-0.pdf page 33.
Might have been better for us if they had found oil in these sandstones. However, these sandstones are of a younger age than our Pale/Subu so it probably has no bearing on the IOC leases.
Their next offshore well is Hagana-1 which is the same type of sandstone play. If Flinders-1 is a dry hole they might be smart to skip drilling the Hagana-1 which appears to be a near-by structure, sandstone but lower than Flinders-1.
Also see http://www.oilsearch.com/Media/docs/1305...f71d-0.pdf page 33.
Might have been better for us if they had found oil in these sandstones. However, these sandstones are of a younger age than our Pale/Subu so it probably has no bearing on the IOC leases.
Their next offshore well is Hagana-1 which is the same type of sandstone play. If Flinders-1 is a dry hole they might be smart to skip drilling the Hagana-1 which appears to be a near-by structure, sandstone but lower than Flinders-1.