Following this thread and some of the comments, went back to...

Following this thread and some of the comments, went back to some presentations from 2017.

In June 2017, Stuart put out a technical/commercial review. On slide 7 there was an interesting Tornado sensitivity chart around EUR where factors like gas content, permeability and skin were factored in. Slide 9 went on to consider permeability and skin as generally understood. The 30 August update noted that previous Klebb activities had witnessed wellbore skin caused by formation damage.

One of the positives of the current Jaws program is the amount of live data the Company has noted it is able to measure. Thankfully, we don't get daily updates of all this data as it would be impossible to sift through it all and be more likely to confuse rather than help.

All IMO but I'm comfortable enough with the positive gas flow trends. Only the Company has all the variables to hand, especially how the pressure wave is moving beyond the wellbore BHP. There does seem to be a quick reversion from some posters to unnecessary concern, even days beyond updates which of themselves present a reasonable picture of progress. I guess that's fair enough as everyone wants this to go well. Stuart's contact list must be growing with a cohort of HC posters who no doubt today will be texting or calling him today regarding 'skin'.

It was interesting that Friday's presentation was considered non price sensitive. That suggests (to me) that it remains slow going with decent albeit not rapid progress, nor necessarily any cause for major concern.

If we wind the clock back 18 months and were presented with the opportunity of having a successfully completed horizontal, gas flow rates of 150 and rising at a steady growth rate with permeability being maintained in the formation, a high COS opportunity in the Perth Basin (possible $500m upside from successful well) and further acreage upside (read value upside) if WE goes well I think most of us would have taken today's status at a heartbeat.And of course, the cash in bank to get it done. How important was that recent raise. Try doing that today - with great difficulty.

Good time to remain patient. There is a very good board behind the Company now, who have given the shareholders (at the cost of some dilution for sure) a real opportunity to enjoy value uplift through 2019. Hopefully if all goes well, a ton of value.

GLTA

Cheers

Adaltiora