MIN moved on Norwest after a belter of a result at LD-1 which had a huge flow rate then moved on to LD-2 which was full of water. (Booth is closer geographically to LD-1 than 2).
Their prospects and leads are many over a large area while TEG have the one good gas lead (potential 140PJ P50 estimate to TEG) apart from a few smaller gas leads the rest is oil which is still worth money but not of interest to MIN or Hancock who are looking to replace diesel in their mining operations with cleaner burning gas.
From where we are now $400 million would be absolutely brilliant,IMO.
Perth Basin Norwest Energy, page-7
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