Offer, page-163

never say never...and if you're going to put numbers out there - pls back them up

if you look at my post in 2021- 54309361 54313675 - before spud of LD-1,i was forecasting $400M MC for NWE, using old $1,000,000/BCF metrics and my view on LD-1 upside based on info the company showed at the time - my view was that there was a case for the high case being close to 1.6TCF RGIP.

Now after LD-1, the area of closure - has doubled, compared to the pre drill high case - and the pressure, permeability, porosity numbers are far higher than we thought.

The metric is now 70-110 BCF per 3 km2 of closure GIP - per companys own announcement. Lets say 80% recovery, and $2/GJ for RGIP. Plus theres condensate in Lockyer. So thats double the size and double again for gas price - in my view. DYOR.

Additional Upside - based on what the company has stated in its announcements is:

• Low perm Kingia pay - 15 - 20 m thick.
• Low perm High Cliff Pay (this stuff will pay in the longer term, you wont get much from a 4 hr test - esp when theres 120 MMSCF coming out of the permeable zone. But still , its extra 20 m+ thickness of gas in a "reservoir".
• 60M oil column in Dongara/Wagina, and
• repeat all of the above for Lead E, D and anything else the 3D might show.

So pls lets not shoot ourselves in the foot by throwing numbers willy nilly out there. But I agree with you, we need to keep our feet on the ground and wait for it to slowly manifest itself through discovery.

DYOR. not advice.