techniques refined flow rates will improve , page-37

arg. where to start.

Moobma-191 seems likes a good place.

Santos declared it an 'extraordinary result', I have in the past been unexcited by the result, partly because I am a BPT holder, not a STO holder (even though BPT has %20.21 of Moomba-191).

After some more reading, it was surprise for all, mainly because it was a vertical well and they only fractured 3 times. The vast majority of the gas that is flowing is from just 1 layer of the REM, the Murteree. Its thickness at Moobma-191 is approx 90-100 feet, or about 32 meters.

Going from the Moobma-191 result, I can only assume that Santos will do the horizontal fracture on the Murteree shale to get the best result. If they do 10 fractures over 3000 feet in the Auroa well, wow.. then at the end of the year, they will drill the Fortuna 2, over 15-20 fractures and 5000 feet. It will be enormous.

So why am I talking about this, well, simply, BPTs %100 owned PEL 218 has much thicker area's of not only the Murteree, but all the other layers of the REM. As Gassed has discussed, ATP 855 has the same much thicker REM. The Patchawarra layer has been pretty much untested up until now (1 fracture in the 2 earlier wells at the shallowest parts of the wells), hence, expectations have been all over the place. As discussed by other posters, BPT is already realizing that the well was not %100 optimal.

Autosime - (appreciate you candid views as always, even if some don't want to read them).
I will admit, I am going to be contacting the Company as soon as possible to ask for more clarification on what they think/believe/know on why the Gas flow was not presented in a more positive light. (My own opinion, is that they hoped to have a number first of the bat, so big that it made Moobma-191 a puddle). As I and others have stated also, this is just the beginning of the shale exploration in the Cooper. I know for a fact (speaking to other company's) that the Cooper Basin companies like BPT, STO, SXY are literally pulling rigs in from everywhere else in the country. This is not occurring because the gas is not there...

To give some context regarding the shale, BPTs has at some parts, depths of 1300 meters of shale, that's almost 4000 feet.
Also, I finally found the pricing info that BPT presented a while back. Might be of some interest.

My brain is failing. Here are some links for those that want to do further reading. Also, so I can find them again :-)

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Santos Presentation
BPT Preso with economics