Ann: Operations Update - March 2022, page-29

777

I don't believe they can replicate this and make it commercial. Bit they won't replicate this.

As a pilot scheme, they have learnt from the process, will focus on what works and adjust to benefit from the earlier experience. For example, the horizontals wells failed to work as expected. Do they understand why they failed, yes? They will go forward with verticals from here for future drilling.

Note the drill spacing on the new wells. I think that is a hint towards commercial options and spacing.

I believe your thinking that they will try and replicate what they have done previously over a wider scale is flawed. Your experience in the Surat and Bowen would surely attest to that.

AL