ponderings on latest releases

( From announcement dated 1/7/09 - I have shown only what I think are the important extracts.)
The current flow of gas and frac fluids is an estimate only
and the sustainable gas flow will not be known for several weeks as the gas flow increases and as the frac fluid flow decreases

It should be noted we have only fracture stimulated one zone out of several known in this
well. There are also additional zones suitable for fracture stimulation in the other two
Wombat wells. These are untested to date and have the potential to substantially increase
the total flow rate from the Wombat Field
The success of our latest re-fracture treatment and increased flows gives us confidence
that we are close to the commercialization of the Wombat Field.
These are major new Victorian gas resources with negligible carbon dioxide content. We believe these resources
will provide an excellent natural gas fuel for electricity generation
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(From presentation dated 26/6/09)
Numerous other ‘tight’ gas wells are
present in PRL2 and include:
•Boundary Creek-2
•Macalister-1
•North Seaspray-3
•Trifon-1
•Trifon-2
These wells contain abundant tight
gas sandstones and have significant
potential to add to the gas resource
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From the above my own personal opinion is if they finally have the fracing right this time around ( and they have learnt a lot over the years )then they could be on a bonanza.
Note: Because the wells are on shore and close to the main Eastern States Gas Link & Treatment Plant pipelines, the capital cost to connect should be comparatively small.