announcement out, page-16

Sounds great, except for one little problem.

For this notional development it we have considered the gas reservoir(s) to be much the same in structure and producibility as Palm Valley, the only gas only producing field in the Amadeus Basin to date.

So to get this LNG plant, Central just has to find FOUR MORE PALM VALLEYS?

I doubt there is even one more Palm Valley in the Amadeus. PV was a geological freak of nature. After they discovered it they spent years trying to find others and never did, because, as we know, the Amadeus is a tight basin.

It makes the rest of the report highly dubious IMO. After you make a clanger like that in the very first step, the rest of the figures are pretty meaningless. I mean, who cares whether it's feasible to develop a four-Palm Valley discovery if there simply are no more Palm Valleys in the basin?

This entire report would need to be done for a number of smaller, tighter fields that require lateral drilling and fraccing, which would change the economics of the project significantly for the worse.

I'm a bit suspicious of these Mulready guys. They're the ones who said there could be 70TCF of CSG in the Pedirka, because they used Bowen Basin coal properties (the very best-case scenario) to model sub-bituminous (worst case) Pedirka coals. I'm starting to think these guys just tell JH what he wants to hear, not what he should be hearing. JH spent like $10M chasing CSG because of that one stupid assumption. Now they're doing it again.