let's keep it real , page-18

There are literally dozens of prospects to drill in the Amadeus, some oil, some gas, some helium, most of which have never been drilled before. Probabilistically, at least some of them will have hydrocarbons. How much and how easily extractable we can't say.

I'd like to see CTP just systematically drill these prospects. Even dry wells will increase the understanding of the basin and help constrain the petroleum systems. Already O-2 has confirmed the existence of a late Proterozoic petroleum system that has been ignored ever since O-1 was drilled in 1963.

The problem with the coal is that it's too deep. I don't see how JH can expect to monetise it through JVs with mining companies. I'm keeping an open mind on it and will happily revise my opinion if CTP releases info that shows it's potentially mineable, which would mean IMHO it would need to be shallower than 300m.

In the meantime, I'll wait for JW-1. Even if it only finds oil shows, it will be a good result for me.