holdfast flow results, page-8

I am sure we have all read the BPT release wrt the flow rates of Holdfast.
as Beach says, any flow from the vertical well would have been a good result, but getting a flow rate of up to 2mmcf/day was an exceptional result.
Beach says it is now expecting to book a "material" shale gas resource in late July/Aug.

I have never before read a release from BPT or CEO which has been so upbeat on a well result.

Gassed pointed out that ATP855 is over 400,000 acres, so the potential resource in Nappa Trough, and importantly ATP855, is potentially now huge!

so the point is that ATP855 potential resource may be attractive on a worlwide basis - ie, that BPT has shown the potential of the Napp Trough now, and that ATP855 may well be seen as attractive to a foreign J/V partner.

If the resource is so large, then players from the US may well find it attractive.

Why not?

As Gassed pointed out, the discrepancy of the value of shale gas dirt in the US compared to Aust values is ridiculous.

So why wouldn't an experienced US shale gas operator not be interested in investing in our dirt, if it could get that dirt at bargain based entry levels?

Behold - suddenly ICN could get an experienced Operator, tech experince, J/V partner, cash from sale of farmin, and credibility.

So - forget RJ, forget GSA, forget 626, forgat STanwell.

As HC posters have been saying earlier, focus is now on the huge latent value of the now proven potential of shale gas in Nappa Trough.

imho, the GSA of Chinese and Stanwell may be just a bonus.

cheers