Ann: 11.02.07 Amadeus Basin Unconventional Indepe, page-13

re: Ann: 11.02.07 Amadeus Basin Unconventiona... CB,

The problem is, all this talk about recovery factors is pretty meaningless because at this stage there is such a huge uncertainty in the OIP and GIP calculations.

For instance, the report on CSG in the Pedirka estimated 70TCF of GIP because it made a number of assumptions that just weren't true (and in fact were pretty ridiculous).

Likewise here the authors have made a number of major assumptions for which they have little justification because there is so little information available. Any attempt to quantify recoverable resources at this stage is just pointless.

What that report is really saying is "It's definitely worth drilling a few holes to see what happens."