santos presentation., page-7

Mr P

Good comments, but I suspect you might be misinterpreting the graph on page 19 when you say:

"It is also the first time that we hear the the production rate of the Tintsfield pilot was 2.5Mscf and with Dewhusrt pilot starting up at 3.0 Mscf! WOW! The graph on this page also notes that there is half as much water in these two pilots than when Bibblewindi West pilot started!"

My reading of this graph is that it represents "total pilot production" over some years. That means ALL pilots combined. So when Tintsfield started for instance production went from around 2,000 Mscfd to 2,500 Mscfd. There have been times when production was as low as 500 Mscfd .. that would have been during the flooding when some pilots were shut down. When they say pilots are producing at > 2,500 Mscfd they mean BW West at maybe ,500 Mscfd, BW at 1,000 Mcsfd perhaps and the others at whatever.

Nevertheless ... STO now as in July 2009 when they bought in are FULL of the praises of PEL 238 and its "world class quality". Its very dispoointing to have it sold off for no good apparaent reason.

There is no doubt that the board has a lot of questions to answer.

H (occassional market watcher only)