big river, page-28

The big river project announcement does have a great gloss to it. I can see how this will be a company changing event. Technically on sp it looks like a breakout could happen and yet I still have cold feet just like a bride who's wondering will he be faithfull? can I truly trust him?

After all wasn't it 18 months ago that EOK with 500,000 acre potential a game changer? Is this just another big announcement to bring in the money? Promises of 20 wells+ turned into 1 or 2. Past record indicates lots of POTENTIAL but little follow through. I know that the gas price has fallen but if I remember the breakeven was meant to be 2.6ish and currently spot is above 4.

Other questions
Where exactly is their permits, spatially where are the nearest productive wells. Are we surrounded or on the margin. Just like real estate location is everthing.

How much did we pay for the leases, what are the royalties, what are the expiry conditions.

Are leases contiguos or fractured? Fractured leases can double, triple or more the processing/infrastruture costs and lead to acreage abandonment

Where is the nearest pipelines/ infrastructure?

Why only raise $5 million and why no announcement about planned drilling just benchtop study and siesmic. Nothing tests a field better than the bit in the ground. At some point you still have to do that and a coring rig is relatively cheap and will provide details about thickness, density, porosity, yield. I know the answer will be we want to find the perfect spot but hey, are we talking about there being a shale field larger than 15,000 acres or aren't we?

With all these doubts I will still buy a small amount because EOK produced a massive run from the 20's to 1.50 and if you have skin in the game there is no better way to ensure you actively follow.

Time will tell it has the potential for massive change but it is a long way off the calibre of investment that AUT is

good luck happy hunting

cheers Icharus