Ann: Presentation - Phoenix Update , page-2

Its good to see the following restated(interspersed with some new statistics):
*The 1980 Phoenix drill struck thicker SANDSTONES below 4113m (thats a fairly shallow depth in gas drilling by any world measurement,onshore or offshore) and those below 4113 metres yielded significant gas shows.
*ALL sandstones below 4113 metres are gas bearing.
*Development of Phoenix is perceived to be a simple,low-cost development.
* The 2 best prospects(Phoenix South and Roc) in the several adjacent "Phoenix" licences now have early gas reserves figure of about 11 TCF attributed to them- I think thats twice the estimate we had until now(I will check on the numbers).
* There are perceived to be switchover options so that gas production can be directed to either the W.A. "Domgas" market (surely the highest-priced gas market in the world right now, withstanding the battering that Shale oil production is giving to gas prices in both the USA and around/in the Russian states(and thus European customers served by Gasprom gas))).
* The access to the rapacious manufacturer consumers of about 75% of the LNG produced is superb.Who can get an LNG tanker (that costs as much as the annual GDP of many 3rd world counties) there in a shorter time(and turned around for another load) ?

Message to Shale gas producers. Kindly dont destroy all the gas markets . Those with decent-sized "conventional" well-proven HCB assets who can develop their fields cheaply and are near both a buoyant home gas situation and the big LNG consumers and are able to deal to both will make money and still be around when your field are long empty in 20 years.