Ann: NZO: EXPLORATION DRILLING COMMENCES AT PALM VALLEY, page-22

Just troll posts by somebody who is clearly trying make it seem like they have more knowledge than they do. Suggest putting on ignore.

Let's just say I doubt this is their first HotCopper account. Just the latest incarnation of one of CTP's long-term trolls.

The Amadeus is an old, tight basin and both PV Deep and Dingo Deep are risky wells that have a COS less than 50%. The biggest risk is reservoir quality, especially that deep. Finding gas in the Amadeus isn't difficult, finding reservoirs that will flow at commercial rates is. Holders should be aware of the risk - my personal expectation for the most likely outcome is that they find gas but it flows at <200 Mscfd.

The PV-12 sidetrack on the other hand I think stands a decent chance of success. PV-13 showed there is still untapped gas in the Pacoota there and it outperformed all expectations. It maxxed out the wellhead, plateaued for over a year and even now as it's coming down it's declining much slower than you'd expect, which shows the effect of the tight gas sands kicking in. Palm Valley is well-known for this dual-porosity effect and if PV-12 is successful I expect it will perform similarly.