I might do this in two posts. I'll put up the answers to the...

I might do this in two posts. I'll put up the answers to the questions and some brief points. And then later whatever I forgot the first time. I did have a chat with JH before the meeting started.
Brief comment. The answers we really want obviously were not avilable at the meeting. How successful this company will be will be determined by what is found by the drilling. JH pointed out that the siesmic where the CBM drilling is excellent, the coal seams are obvious and continuous etc., but until we have laboratory results we know nothing of there worth for coal seam gas production.

BobbyKennedy-- The CBM holes are spread out over a wide area (the seismic shows coal extent of 50kms by 100kms). The 5 holes are testing a range of conditions, so there could be a couple that give poor results. The purpose of the hole is to gain imformation so that the next CBM drill programme will be able to concentrate on the areas with the highest CBM potential.I don't think anyone knows how long they will take. Expect a month to drill and core, and then another month before the results will arrive back from the laboratory. JH said that coal and gas encounters will be reported when drilling and laboratory results when they arrive. My estimate is the end of January for the first results. The 5 CBM holes will not add to gas reserves as they will be too far apart .

Liquidcarbon --- JH said he had hoped that the Helium study would be ready by Christmas but it has expanded some what in scope.He said the cost of the study has not escalated. Now the report is due late Jan/Feb. Seems like there is a very small number of companies that supply equipment but I gather there was a lot of details involved. He seemed to find this question interesting and I am not doing justice to his answer. But I think some of the technology available will be suitable to start He production on low volume gas production (10 mcuft/day). And transport the liquified gas in container size loads by rail and road.

A couple of other points.
CBM93001, last years CBM hole may not get flow tested. The way it was completed may not warrant the expense of testing but it will be useful as a water monitoring bore.

Ooraminna 2 will be added to the beginning of phase 2 because the cost of transport of a drill rig , it makes better sense to drill back to back wells. Ooraminna 2 site is also not in a flood area so it could be possible to start before the wet season finished.

Money. After Phase 1 is finished CPT will still have $12 million . So more money will be needed to complete all the drilling in Phase 2.

Notice I have said nothing about BG. Many questions were asked about the JV. The accoustics were not good (humming air-con in the roof) so I couldn't catch all of the verbage. But nobody knows what BG's intent is.

saltbus