drilling continues - results expected soon, page-5

Ian,
I agree Wombat has not been thrilling.
Flow rates have been a dispointment.

However, a great deal of money is being invested.
"The Trifon Tight Gas Project is funded by our Joint Venture Partner Jarden Corporation Australia Pty Ltd to the extent that the first $5 million of expenditure contributed by them will earn a 50% interest in a defined area which covers both the Trifon and Gangell structures."

A lot of time and research has been undertaken.
"An engineering study reviewing the old wells has been undertaken by Blade Energy Partners of Dallas, USA and the results suggest that future wells should be drilled underbalanced using either a coiled tubing unit or
conventional drilling but using oil based muds. With these underbalanced techniques, it should be possible to substantially lift gas recoveries."

Successful techniques to be used.
"It is our intention to produce gas using techniques that have proved successful in the USA and other parts of the world and are now proving successful in Australia."

Strong confidence of commercial quantities.
"We are delighted to finally get this project underway and remain confident that we will produce gas in commercial quantities from both the Trifon and Wombat projects."

With so much money and time being invested, certainly these guys are worth a punt this time round. I give them the benefit of the doubt they have good a chance of coming up with the goods.

Ace..