Ann: Good Oil Conference Presentation, page-8

A couple things I noted today that have my interest. I know it's all been mentioned before in previous releases but looking this morning, this is what I take from it.



There is a given timeline here ^^ to judge the board on. A 10MW project to be sorted by years end. We can all clearly see whether that's occurring or not by Christmas and make our judgements on them here. Bold statement to make.



This transport cost area where our potential project will apply and compete ^^. We are within 2000km of these potential Steel Mill customers, and less than 1000km from China border. Very competitive transport costs there as clearly seen.


And now the latest acquisition ATP 2044 ^^. This flow test by BG Group being close to 4TJ from a well. Quite significant but I'm unsure if its from the conventional side or the CSG. Eitherway, in my own personal experience a well in Surat Basin flowing 3 or more TJ's would be a good little money maker which nobody would want to shut down unless necessary. A dozen of those would be tremendous but I think an average is roughly 1TJ per well long term for alot of wells out there. With 30 to 40km of pipeline to get to gathering, it would be pretty straightforward and gas flows like that are astounding.

We have some good potential, Interesting why the drilling updates have slowed so much. I do hope we arent experiencing more drill breakdowns. If we are, its at least not a reflection on our resource but it doesnt help the market value us. Our SP will definitely fall on any more drilling equipment delays. Especially since NY has said they are looking directly at fixing this.

GLTAH.