Ann: Walyering Update, page-37

Not much pressure in the D sand. So leave that behind for a rainy day. I think from the ongoing testing show that B & C sands have the pressure, so ideally those should contribute commercial gas to the plant. Top sand still pending testing.

U don't want to see a repeat of the 5 month Production (March-July 1972) & then pressure decline with no-gas left to drain from the original wells into the pipeline. Low CO2 and no nasties in the W5 gas are the key.

Waly-6 wellsite is just a stone's throw away from the plant, so hopefully the sands there are also gas charged.

I guess from a Commercial perspective, JV needs to derisk both wells, before connecting them to the Plant and pursuing a GSA with a local buyer.

Back in 2016 after FID, Waitsia-1A was developed in 8 months time for A$18mil after hooking up 2 wells (Sen-3 & W-1) via pipelines to the existing Xyris Production Facility & a GSA with Alinta for 9.6 TJ/d for 2.5yrs.

FID & approval by Mitsui-AWE: https://www.asx.com.au/asxpdf/20160105/pdf/4346mzsg4lvv40.pdf

First gas from Waitsia: https://www.asx.com.au/asxpdf/20160829/pdf/439qcywmmdxg1x.pdf

Noticed in the Qtrly, Beach spudded Waitsia-5 this time last month for Phase-2. They plan on drilling an exploration well at Trig-1 in Q3-2023, updip of West Erregulla after approvals etc.