Hmm..
Well, not sure how to take this statement-
Under our agreement, our joint venture partner in PRL2, Beach Energy, has to carry out extensive fracture stimulations in two wells (Wombat-4 and Boundary Creek 2) at significant depths, well below the water table. These activities are scheduled to be done prior to Christmas this year.
Beach Energy has contracted expensive equipment to work on these leases and has begun the process of obtaining the approvals before moving ahead.
So.. obviously the fracs cannot occur, so what does that do for the J/V as a whole..? Is BPT in breach.?
(IMHO) in the scheme of things, I think it a bit of a side issue for BPT overall, however, I do like that BPT has a solid position in Vic, as eventually the government will allow the drilling to go ahead.
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