article in this mornings west australian

"Valentine well hold promise for Arc" Page 39

Brief of main points:

* Hopes for a major gas discovery in the Kimberley boosted by strong gas shows
*Arc hopes the discovery will solve Perth's looming gas supply problems
* Gas shows over 160 Metres
*Not commercial on their own but bode well for the target zone when intersected later this week
*Has the potential to host 1.3 trillion CF, 300BCF required in total to make the region viable
*Results to date nothing to get carried away with yet but extremely encouraging
*Has upgraded Stokes Bay that flowed 4.3 MCF when structure was last drilled
*All but confirms a significant hydrocarbon system in the area
* Alcoa contract to take a billion dollars worth of any gas found