Ann: Welchau-1 Well Discovers Condensate Rich Gas, page-3

Short version/ highlights for me...



The thick intersection of Lunz Formation is expected to provide aneffective seal for the potential hydrocarbon accumulation at Welchau. Seal quality and thickness was a key riskwhich appears to have been mitigated.

Welchau structure is an east-westtrending, asymmetric anticline as predicted by ADX in the pre-drill structural mode


Compositional analysis of gas shows encountered at Welchau indicates a very similarcondensate rich gas to that tested at the Molln-1 welj

Liquid rich gas shows were encountered over an interval of 115 metres in the Steinalm Formation between 1452metres and 1567 metres

The cut surfaces of the core confirmed the presence of a naturalfracture system which is essential for gas production performance
The C1 to C5 ratio plots indicate the presence of permeable reservoir.



Sounds better than good to me!!!
And now we wait for the market reaction!!!