Ann: Gas/Condensate Discovery at Red Gully North well confirmed b, page-79

Perhaps Harry can provide some technicals on this.

My understanding is that it has been done before (with a similar water/condensate ratio).

Funny thing about all this. SP at 32/33 with C Sands written off. Now at 29 with C Sands resolved much better than many here would expect, with D Sands still unresolved. April 2016 activity indicated D sands are active, so it appears to be a technical problem (were the guns ineffective because of the recementing perhaps?).

C Sand flows higher than expected. When D Sands resolved (which they are trying, and we should know the outcome by Monday) we may indeed have higher flow rates there too.

Hartleys valuation already takes into account the sunk cost of RGN1 (the debt, plus risked valuation are included), and C sands are worth roughly 9.9 cents of the 22 they cite. Makes the current SP a significant discount. Won't be long until even the bears and board-haters realise this.

Early morning flight - Travelling for 2 days. Enjoy the rest of the week all.
Kit.