here is the good news so please get upset, page-154

This is Mr Lincoln Augustus, first second cousin of Holymagiman.

There are so many things to do and there just isn't enough time to do everything that must be done, so I am only able to say a few words.

It seems to me that water issues are a major concern for some, and a languishing share price doesn't cheer things any.
Indeed these are causes for concern.

It is a fact of life that there are many fish in the sea, and the grass may seem greener in other pastures, but does that mean that one gives up the bird in the hand? In some circumstances yes, in others, no.

But decisions are made by individuals who either live or die by their course of action. Nothing so drastic here, of course...just a matter of the level of profit.

Eastern Star has encountered a lot of water. I see this as a plus point. The water equates to stored gas, and the more the better.

One has to remember that these are extremely thick coal seams we are talking about, and very thick coal seams, to put it simply, have very large amounts of gas, but they also hold large amounts of waterwater.

But if there is more water, it takes a while longer to dewater, so that gives more time for the impatient to fret and frown. But at the end of the day, perhaps a longer day than one initially expected, the stored gas will come rolling along, once the water is gone.


I note that in page 4 of todays presentation, and on page 4 of the previous presentation, it has been mentioned that:

1. NSW’s biggest ever CSG programme now underway

2. Investigations advanced regarding Newcastle LNG

And on page 9:

1. Performance consistent with predictions

2. Strong water rates (3,500 to 4,000 bwpd)
a. confirm high permeability of Bohenacoal seam
b. confirm connectivity with reservoir

3. Gas production immediate, coal is gas saturated (~530 ft3 / tonne)

And on page 10:

Strong water flows (> 5,000 bwpd) confirm potential of Namoi coal seam, not included in previous resource or reserves estimates

And on page 15:

ESG investigating potential for LNG export via Newcastle

One can read into all these what one wants to read, and one can sell, hold or buy as one chooses, according to ones' market perceptions, fears or fancies.

There are words on lines and there are spaces between lines and one reads what one wants to read when one is reading, as dictated by what is troubling or stimulating the brain at that moment.

Blessing of the Lord
MLA