Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Please contact me: vmertens@gmail.com - Thanks in advance !
This is my last post for today. Don't forget: The bottom line is:
!!! --- THE BEST IS YET TO COME --- !!!
Yes, but it's a long way UP!
What's the name of that programme? I'm interested.
Don't forget the Tasmanian Summer is during the Northern hemisphere Winter. I plan to return in October/November together with shareholders from Belgium and all over the world.
One thing is for sure: the best is yet to come !
Idiots make us rich! I love idiots !
Weeeeeeeeeeeeeeeeeeeeeeeeeeeeee...
YIHAA - let the beast go ! Keep in mind however that the current PPS is still ridiculously low and will go up A LOT when:
*They announce the resumption of the drilling
and even A LOT MORE when:
*They strike oil and gas
Join the ride!
Every sell is a buy and the other way round...
NICE START: Pre-Market: $ 0.04 0.005(+14.29%) Volume: 100.0 k 8:52 AM EDT Jun 15, 200
You've got good taste !
8AM is a bit early though, however here in Belgium it's already 3PM, so... !
Do you know Belgian beer?
Does "Stella" ring a bell ?
I agree! I'm sitting behind my desk, drinking a glass of orange juice with some Wodka in it !
In my experience, the level II data is bullshit. Just wait till the market opens and you'll see.
I do expect a gap + white candle today, but the real "skyrocketting" will only start when they strike oil/gas (=soon) !
Enjoy the ride! I will...
Vincent.
Article dated April 19 about my visit: http://vmertens.be/article20090419.JPG
Check out this website: http://www.bronteparkvillage.com.au/
I stayed their for a couple of days. It's a very nice place!
I appreciate "The Penny Guru's" posts!!! Keep up the good work and see ya soon at the Millionaire's club in Tasmania, mate !!!
1 more week.
I certainly am because the weather is great and the skirts are short over here .
approx. 13-29 April.
Some more pictures to include in the fact sheet: www.vmertens.be/DrillingSite
They will, don't worry.
So do I!!!
ALL IS WELL. DON'T WORRY.
I don't have any doubt on my mind! Don't look at the PPS, look at the facts: they'll announce financing soon and strike oil and gas before September 30...
They shoot for the moon so that even if they miss, they'll land among the stars !
There are already producing gas wells in the bass strait however.
The government is very supportive (remember they'll get 12% + regular company taxes), so once GSLM strikes oil, it won't be a problem to get a production license.
The license can't be extended, but they can (and will) re-apply for it (and get it, because they'll have found commercial oil/gas by Sept. 30).
I won't use that function. I want to know who to laugh at when the PPS skyrockets !
Nice volume today!
I disagree. A PR stating they've got the money to start drilling can and will be released anytime and this will make the PPS skyrocket... By then, it'll be to late to get in cheap.
Absolutely!
I (REALLY!!) also plan to sell some assets in order to buy some more EEGC-shares...
Congrats! You'll be a multi-millionaire very soon!
He doesn't, don't worry. Executing the 7c right will be like exchanging 5 dollar notes into 500 dollar notes...
WELL DONE. You'll be a happy and rich man soon!
Interesting information (from their "registration statement"):
Great South Land Minerals Limited and its predecessor companies have spent substantial amounts on exploration activities. These activities have so far established the presence of significant petroleum systems, including the Larapintine Petroleum System and the Gondwana Petroleum System. In identifying these petroleum systems, Great South Land Minerals Limited has proved the presence of quality source rocks, including the Tasmanite Oil Shale which is an oil and gas source rock and is used as the world standard for type 1 kerogen, that are thermally mature for the generation of gaseous and liquid hydrocarbons. This determination shows that hydrocarbons have been generated, expelled and migrated into potential reservoir units. Although recent seismic data has shown the potential for trapping mechanisms, the Company is undertaking additional gravity and seismic work to identify potential drill targets. Great South Land Minerals Limited continues its exploration activities with exploration drilling & stratigraphic coring activities being planned in strategic locations.
History of Great South Land Minerals Limited license area Special Exploration License13/98
Exploration in Special Exploration License 13/98
In its exploration for coal under the coal exploration lease, Mobil Energy Australia commenced drilling operations, preceded by a ground based magnetics survey, on October 2, 1983 resulting in five cored holes totaling 987.75 meters, 814.19 meters of which was cored. The drilling targeted two horizons in the Permian sequence:
·
Cygnet Coal Measures equivalents
·
Faulkner Group containing the Mersey Coal Measures equivalents
Sedimentological studies were also undertaken to enable, in conjunction with the additional stratigraphic information, an environmental map of the Permian to be drawn and to make recommendations on future drilling.
Conga Oil began work in 1984 and during the period to 1987 focused most of its work on undertaking reviews of the basin. During 1987, after a reported seepage was relocated and analyzed, the Company began a systematic exploration program in the region. Recognizing the need to map sub-dolerite structure, Conga Oil first attempted to extend the gravity and magnetics databases in the Tasmanian Basin. Although this helped in defining regional trends and lineations, the lack of subsurface control and the limitations of the methods themselves the usefulness of these techniques for the purpose of identifying potential hydrocarbon traps.
The work completed by Conga Oil established that:
·
oil had definitely been generated and that active seeps were observed in certain areas;
·
source rock studies of vitrinite reflectance and conodont alteration index confirmed that Ordovician carbonates exposed around the region were within the oil window;
·
Permian and younger rocks blanket most of the region and obscure distribution;
·
basin development began in the late Precambrian, was most active in the Cambrian, but continued up to Middle Devonian times.
After 1988, exploration continued in the newly incorporated and expanded area of Conga Oil’s license. Despite earlier discouraging seismic acquisition data results, due dominantly to the widespread coverage of dolerites onshore Tasmania, Conga Oil attempted to acquire additional seismic data both on the main island and North Bruny Island in the vicinity of Johnson’s seep and acquired additional data offshore in Storm Bay utilizing AGSO’s Rig seismic vessel. The seismic acquired was disappointing with data quality of the records very poor to the point that none of the sections were adequate for the purposes of identifying and mapping petroleum traps.
In 1992, Condor Oil took over responsibility for exploration and during this period up to and including 1994, produced several consultants’ reports. During 1994 the stratigraphic wells, Shittim #1 (1751m) and Gilgal #1 (50m), were drilled on Bruny Island.
During 1995, when Conga Oil incorporated Great South Land Minerals Pty Ltd., Congo Oil gave Great South Land Minerals Pty Ltd. the role of exploration project manager and Condor Oil became an equity holder in Great South Land Minerals Pty Ltd. Great South Land Minerals Pty Ltd. initiated collaborative studies with a number of individual consultants and agencies which added a considerable amount of data and improved the Company’s understanding of the basin. The Department of Mineral Resources undertook rock evaluation studies, honors students at the University of Tasmania provided basin studies, Shell Development Australia reprocessed some earlier seismic data, BHP provided analyses in oil geochemistry, the state Mines Department acquired gravity and seismic data, CSIRO provided analyses of seep studies and geochemistry and Eugene Domack completed studies on the maturation and depositional environment of the Tasmanite oil shale.
23
At the request of the Mines Department, Great South Land Minerals Pty Ltd. employed an independent consultant, to assess the significance of the gas encountered at Shittim #l. The consultant concluded the hole had established that a seal, reservoir and gas were present and that the results encouraged further investigation of the basin depocentre located in central Tasmania. On the basis of this report, Great South Land Minerals Pty Ltd. then focused its exploration activities in this area of the basin. Concurrent with this work, Trent J. Woods, University of Tasmania, investigated the timing of potential hydrocarbon generation from Paleozoic sediments and the characterization of potential reservoirs of the Lower Parmeener Supergroup.
During late 1995, the Australian Geological Survey Organisation undertook a land-based seismic survey over parts of the basin. During 1996, a third stratigraphic well, Jericho #1 was pre-collared and drilled to a depth of 640m on Bruny Island.
The stratigraphic holes were located for the following reasons:
·
Onshore and offshore seismic existed in the area and needed velocity control, which was only obtainable by a downhole shot so that previous processing could be repeated with actual real velocities.
·
Historic records indicated that the area had numerous seeps of both oil and gas and that at least five shallow wildcat holes had been drilled but were depth limited because of previous technology.
·
Results of gravity and magnetics surveys indicated that North Bruny Island is located on a basement high with a good potential regional trap for oil and gas.
·
Modern geochemical oil exploration methods indicated that there were crude oil seeps in creeks and around old drill sites that warranted investigation.
·
A recent Mines Department hole on the neck of Bruny Island had discovered oil in loose sand at 30meter depth.
All three holes recorded petroleum hydrocarbons in a gaseous state.
·
Shittim#l recorded tar with zeolites in the fractured dolerite and gas from 810 meters depth. The hole was drilled onto 1751 meters, reaching the unconformity.
·
Gilgal#l recorded gas at its total depth of 51 meters.
·
Jericho#l recorded gas from 15 meters to the bottom of the hole at 228 meters.
During 1996 Great South Land Minerals Pty Ltd. contracted Robert S. Young, previously Chief Petroleum Exploration Geologist for Getty Oil, to review the potential of oil and gas in the Tasmanian onshore Basin. The primary focus of Young’s review involved analyzing the work undertaken up to that date from a petroleum systems perspective. In this sense, he set about identifying whether the basic building blocks for the potential commercial production of hydrocarbons existed within the Tasmanian Basin.
Young concluded that:
·
With some 270 seeps and shows, which have been studied geochemically and have identified at least four mature oils, that it was very probable there are several possible hydrocarbon sources in the Tasmanian Basin. Geochemical comparisons of seeps show that the most likely source would be the Ordovician of the Gordon Group Limestones. Ratios of C27:C28:C29 Steranes are identical between seeps of the Bruny Island Johnson well and the Ordovician Gordon Limestone and the predominance of C27 Steranes and the abundant diasteranes in Tasmanian bitumens suggest a widespread algae– and clay– rich source rock.
·
Conodonts’ color indicates that much of the Gordon Limestone, particularly in central and southern Tasmania, is in the oil and gas windows. This limestone is expected to underlay Permian and Triassic sediments in much of the Tasmanian Basin. He also included the Permian Quamby Mudstone, “Freshwater Sequence” and Preolenna coal Measures as other potential source rocks. In all three rock units of which the total organic carbon may reach 25%, vitrinite reflectance data and fossil pollen colors show that these source rocks are within the oil window over large areas of the basin.
·
Reservoirs are very easily envisioned in the shallow marine Ordovician Limestones as palaeokarsts, reefal or fractural. Since limestones are considered source material, migration would be minimal. Additional potential reservoirs are within the Siluro-Devonian sandstones of the Eldon and Tiger Range Groups and within sandstones of the Permian Bundella Formation, Faulkner Group and Liffey Sandstone of the Lower Parmeener Super Group. Measured porosities in the Faulkner and Liffey are 13% and 12% respectively, while other Permian sandstones in the northern area of the license have porosities averaging 16% and horizontal permeabilities ranging up to 386 millidarcies.
24
·
Evaporites are most efficient seals mainly because they offer very little or no pore space; however, the long-term sealing properties of very fine grained, water wet porous rocks such as shales are also remarkably efficient in the absence of open fractures. This is due to the displacement pressure barrier effect created by capillary pressure between oil and water in rock pores. It is anticipated that the Ordovician Limestones reservoirs would be sealed by additional limestone within the Gordon Group or by the Turo Tillite above the unconformity. Good seals of shale and silts are found throughout the Permian-Triassic sedimentary sequence. The Jurassic dolerite sills also make excellent cap rock for the Permian-Triassic reservoirs.
·
Defining traps and structural features within the basin is very difficult to impossible without good reflection seismic records. To date, there has been very little reflection seismic data and most of the data is poor quality due to the extensive dolerite cover over a large part of the basinal sediments. Relatively good quality seismic data has been obtained in areas where the dolerite cover is thin or absent. The results of the seismic work on the TASGO project show that an improvement in data quality and penetration of recordings through the dolerite can be achieved and this will aid in better defining structural traps. The present gravity and magnetics, which have been extensively used to date, have been able to define regional structural elements of mostly Paleozoic Structures in the Permian, or younger, are probably going to be faulted, and of low relief.
·
Except in unusual circumstances, most untrapped oil in sedimentary basins originates from synclinal drainage areas that surround the trap itself. Thus, migration distances commonly range in tens rather than hundreds of miles, particularly on strongly structured or faulted basins.
During 1997, four stratigraphic wells were planned and drilled. Lonnavale #1 was pre-collared and drilled to 557m; Hunterston #1 was pre-collared and drilled to 336m; Bridgewater #1 was pre-collared and drilled to 252m and Pelham was pre-collared and drilled to 503m.
During 2001, Great South Land Minerals Limited completed 660 line kilometers of regional seismic survey over part of the area of Special Exploration License 13/98. At the conclusion of the seismic program, Great South Land Minerals Limited submitted an environmental report to the Department of Primary Industry, Water and the Environment’s Threatened Species Unit. The preliminary results of the interpretation identified several potential anticlinal/domal traps. Two small anticlinal structures were identified in the Parmeener Supergroup beneath the Longford basin and one in the Tertiary infill of the Longford Basin. Six potential traps were recognized in the Central Highlands area where gently dipping anticlines in the Parmeener almost directly overlie and reflect more steeply dipping anticlines beneath the Devonian unconformity. These Devonian structures are probably mainly within the Wurawina Supergroup and contained within the Devonian fold-thrust belt. Based on these seismic results Great South Land Minerals Limited planned a 1075 line kilometer program designed to acquire further regional data, to define structures identified during the prior survey and to place lines close to wells that were drilled and pre-collared in 1997. This survey started in April 2006 and 152 line kilometers were acquired within the Central Highlands of Tasmania.
On May 10, 2002, Great South Land Minerals Limited entered into a joint venture agreement with OME Resources Australia Pty Ltd under which OME earned a joint venture interest in Special Exploration License 13/98 by conducting drilling and related work. Stage 1 of the work related to the expenditure of $1,000,000 to complete the deepening drilling/coring of Hunterston#1 well and other activities for a 5% interest in the license. A dispute between Great South Land Minerals Limited and OME arose as to valuation of work done by September 30, 2002, the result of which was the assignment to OME of all coal bed methane rights in the Special Exploration License 13/98 tenement in full satisfaction against any potential claims. The Company has recently made application to MRT to regain the coal bed methane exploration rights.
During 2002 and 2003 Great South Land Minerals Limited continued to work on the 2D seismic data acquired during 2001 and completed a report on an analysis of the Longford Sub-basin. Great South Land Minerals Limited also obtained approval to reenter and deepen (1700m) the stratigraphic well, Hunterston#1. The well was eventually terminated at a depth of 1324m, which was carried out as part of the OME joint venture. Hydrocarbon gas was noted at various depths while coring and analyses of gas samples confirmed the presence of Helium gas (>1.0%) from the formations below the Tasmania Basin.
Excactly, and the disbelievers will hit themselves in the face while the Believers (=shareholders) are partying !
12% will go to the Tasmanian (not Australian) government. The Federal (Australian) government will receive the regular company taxes though...
Absolutely. Everything will be fine. No pain, no gain!
A lot can and will happen before September...