Ann: Perth Basin Portfolio Update, page-11

They should have talked to me, I would have given them $200K.

The real potential in this ground is not in the already discovered unconventional - it is in permeable horizons that lie underneath. idk how deep basement is here, but everything between the Caringinia and the basement is prospective. They had the operatorship; did not have to spend due to Govt thumb twiddling on fracking; and they were only up for 27% of the holding costs. Mitsui aint stupid. And as for taking up resources - give me a break...what else are they going to do until LD gets drilled? Too late now, but stupidity needs to get called out.

Look at the Ellipse in NWEs preso below c. 2015 vintage...