Rexsh, Seems like another positive announcement. The muted share...

Rexsh,

Seems like another positive announcement. The muted share price reaction is not surprising. There is so much mixed history around the Klebb pilot. IMO there will need to be actual building gas flows to get everyone really excited.

It's also somewhat difficult to gauge the significance of the water rates, noting they are now at a lower level. Although this may be fine because of previous dewatering from other Klebb wells.

What does seem clear from the announcement is management's total focus on permeability/productivity and ensuring that the largest possible volume of coal can be brought below desorption pressure. IMO these two factors will be huge drivers of future gas flows and ultimate estimates of total gas recovery.

Very reassuring to hear confident statements from the Company as they are the only ones with all the facts in front of them. I also assume that they are being careful not to release too much information/data too early that competitors like Beach and Santos could use. One of the real risks, if commerciality is proven, will be defending the Company from unwanted activity on the share register at what could prove to be low prices today, if things go well. Of course, at one level this would be a high-class problem but as one of the many shareholders who have been around for a long time, I'd like there to be sufficient runway and time for the Company to build the value story.

Still early days but hopefully continued good news to come, over coming weeks/months.

Cheers

Adaltiora