Imagine what the share price would be now if we hadn't bought...

Imagine what the share price would be now if we hadn't bought into the Perth basin and were wholly reliant on the SCB. Having said that, the progress on Jaws is good - slow and steady, no surprises. Building up gas flows. Remember, there is only one horizontal hole going off from the bottom of this vertical hole into those coal beds. Eventually there could be a spray of horizontal holes going off from the one vertical hole to greatly increase the area of coal seam gas that's intersected from the one vertical hole in 360 deg. I believe that would be the most cost effective way of bringing a lot of gas into production.

Yes, I do think there will need to be another capital raise in the next quarter, but not before the flow tests results and resource estimate are available for WE-2. I expect the price of the raise to be a fair bit higher than we're trading at now, so not a huge increase in the number of shares. I also reckon that could be coupled with some debt financing, in the same way that Woodside grew its capital base in the early years of development of the North West Shelf in the 1980's. As it was raising billions of dollars in debt on the London market, it was raising capital from shareholders as a condition of its debt financing.