Ann: December 2015 - Quarterly Report & Appendix 5B, page-2

About as close to a declaration of commerciality as you can get with actual flow rates, which is very exciting. The fact that they have advanced the Demonstration Plant to near-ready-to-build stage also speaks to how confident they are in getting these wells to be commercial.
The downside, of course, is with new pumps and demonstration plants coming, and cash running thin by end of next quarter (looking at forward cash estimates), I think they will need to raise some finance from somewhere. Whether its from Orica (through some pre-production funding agreement, the details of which we don't know) or a equity issue, is the big question.
Far more good than bad in this announcement though.
Also, the fact that they keep talking about "record gas flows" and confidence about commerical gas flows, but still don't announce gas flow figures suggests that they are very concerned about takeovers. All the other similar projects I've tracked in the past would have announced some actual flow rates by now. I suppose the water figures are their to communicate with the engineers/geologists without giving enough certainty in terms of gas flows to encourage a corporate with a hungry eye to start takeover proceedings (i.e. expert reports, quietly accumulation a % of shares).
Very happy.