shale gas possibilities

In doing some research on ITC tonight I had read of IEL's website under Pel 104. Very Interesting.

Looking at the boundary of the PEL there is a few things we can deduce.

Firstly the Mollichuta 3d is only a snippet of the area of the Western fairway. Further success on the margins of the 3d could lead to more 3d in the future.

Secondly is that the permit goes well into the Patchwarra trough. Now, I haven't looked at where in comparison to Beachs upcoming drilling is situated for shale gas but ITCs report on their website certainly mentions the Permian gas targets in this area.

This could well be a future dark horse for us in this capacity.