Ann: Quarterly Activities Report & Appendix 5B, page-4

Have just been in touch with Stuart. He is one truly impressive dude.

The guts of it:

- We are now very close to the vertical
- He's more excited than ever
- IVFC is something they always wanted to test but as they had previously fracced the coals from within, they designed the well to initially be as few steps out as possible, but with difficult conditions came plan B
- With IVFC, they're jumping a couple of hurdles at once and moving to what was more of an aspirational well design
- Halliburton have played a huge part in the decision-making process as they regularly employ IVFC in the US
- If all goes well, they'll attempt to frac the VuU and VuL together from within the siltstones. Much cheaper and technically feasible than drilling two laterals in separate coals
- We'll be the first company to employ IVFC in Australia

This is the paper quoted on page 5 of the quarterly - https://www.onepetro.org/conference-paper/SPE-107985-MS