Ann: Update on the Unconventional Drilling Progra, page-4

re: Ann: Update on the Unconventional Drillin... Bystander. I liked a couple of things. First, that the ann came from Icon!!!
Second, that the three wells "have continued to de-risk the unconventional basin centred gas and shale gas potential of the Nappamerri Trough" and "represents proof of concept for the continuation of the deep tight centred gas play on the Queensland side of the Nappamerri Trough".
"Hervey-1 encountered gas shows throughout the Permian Section and tye thickness of the Patchawarra Formation at the total debth of over 800 metres".

And, clearly, Keppel-1 has got gas.

So, the three wells have done exactly what we wanted from vertical "exploratory" wells, they have all found gas and if Geoffrey-1 does the same, we would have de-risked over 900sq kms, more than half, of APT855!! THAT is a major achievment and a huge positive for Icon.

Now, we just wait for the technicalities required to enable contingency resources to be booked, the second last step towards that GSA.

Might seem slow progress, but, it certainly is sure progress.
That $900 per acre paid by Beach through the Put Option is starting to increase exponentially with every well drilled and we have 35.1% of 414,000 acres!!!