Timing?

Just gone back over 2014/15 info to see what sort of timeframe we might be looking at from drilling commencement. T-1 took 18 days to drill and log while QC took 27 days. Taking a conservative stance and acknowledging these new wells are more complex I am allowing (until we know better) 25 days per well. The rig takes about a week to set up and another week if it has to be relocated. So from rig onsite to both wells at TD and logged could be about 68 days. So news on the first well a little after a month from the rig being on site and then a similar time frame for the second well. S0 if they got drilling by 10/4 maybe we would have a first result by mid May and mid to late June for the second well.

Five days after QC was finished Real put out an internal resource statement. They may do the same this time round.

An independent resource report did not come out until 9 months after the QC well. Hopefully there will not be such a time lag this time round as the independent report is truly valued by the market while internal estimates are given scant regard.

At least come mid May or thereabouts we should know if we have eliminated production risk. From what I have seen to date probability of success of these wells appears better than 50:50 IMO.