Ann: Change in substantial holding from MIN, page-79

Hi EyeoftheTiger,
Respectfully, please show me where the inputs to my Lockyer Deep gas resource calculation are inaccurate and skewed to the high-side. The inputs are from NWE ASX announcements and solid Perth Basin research. I could easily run the volumetrics with P10, 50 (my current estimate) 90 outputs, but the reality is, the Lockyer Deep gas resource volume, even in a low-side outcome, exceeds what Hancock Energy are prepared to pay for 195 BCF recoverable gas at South Erregulla.

I will happily rerun the Lockyer Deep volumetrics based on your supplied inputs to the volumetric calculation if you are prepared to provide them to me.

zero accounting for risk or development costs? A P10, 90 output would demonstrate the uncertainty range (risk) in the Lockyer Deep gas volume estimate, so please give me your P10 and P90 subsurface inputs to the volumetric calculation. So, we a are data driven, please base your supplied estimates on reliable and meaningful information.

Kind regards OldGeo