Ann: Operational Update - Significant Progress on all Fronts-88E.AX, page-93

Getting back to the unconventional in the annmnt.

Annmnt pretty much stating all on track and we now own a big chunk of the NS.

Something that hasn't been commented on is the validation of the Petrophysical Model by the core sample analysis/data.

THIS statement was made and the word "Significantly" stuck out at me.

"Significantly, the results from the latest rock property analysis correlate to the integrated petrophysics, increasing the Company’s confidence in the validity of the model."


I take this to mean that PB's model continues to be validated by the core sample and the company also states that confidence has been subsequently increased in the validity of the model. In other words it appears the model is getting closer to reality.

If one extrapolates this line of thought and one moves to being able to validate PB's assertions of the volume of the oip then one comes to the conclusion that PB is right and the Demac IRR was well short of the mark.

To be quite honest its pretty much what many of us have been thinking all along.

I mean whos word does one trust, PB or Demac ?

A fate accompli ?

If so then one can indeed come to the conclusion that we have our hands on 3Bbbls+ of oil if the rest of PB's model is on the mark

d.