Livewire Exploration Watch

John Robertson

PortfolioDirect

RNI reported a 3 metre intersection of massive pyrite with associated copper, silver and gold at its Orient prospect on the faulted southern margin of the Bryah Basin from intensely siliceous and chloritic altered sediment at a depth of 96 metres. The interval coincides with a defined geophysical anomaly associated with mineralised gossans with elevated levels of precious metals. Carnarvon Petroleum reported a contingent 2C resource of 269.7 Bscf gas and 13Mbls condensate for WA-437P following an assessment of the ROC-1 well, below a minimum economic field size of 325 Bscf gas and 17Mbls condensate. An appraisal well situated 5km east of ROC-2 now being planned will dictate a potential development plan. The FAR consortium is drilling ahead to test the Bellatrix exploration prospect. The 2,757 metre well in the northern extent of the defined SNE field in offshore Senegal will test a sequence of fan sediments to the south as well as a package of shallower shelf sediments. This well, scheduled for completion in April, has a lower chance of success than those in more central positions.


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John Robertson is Chief Investment Strategist for PortfolioDirect a provider of resource sector investment stock ratings and portfolio strategies for mining and oil and gas investors. He has worked as a policy economist, corporate business...

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