keeping things in perspective, page-4

Dex,

if they do go there near the 10m figure, this will be very interesting.

I just pulled the project application for the RVPS from back in mid 06.

A few choice points:

• ACIL Tasman has estimated that electricity demand
  within a 100 km radius of the Casino Gas Project is 450 MW and is forecast to grow to over 650MW by 2010.



• Transgrid noted in its recent Annual Planning Review (2005) that This area is experiencing high population growth and a significant increase in the demand for electricity and that additional support to the area will be required to supply the growing load.



• Richmond Valley Power Project is a 30 MW gas fired power plant to be established in close
  proximity to the gas field development of the Casino Gas Project.



• The Casino Gas Project comprises the drilling and equipping of approximately 20 horizontal
  wells in coal seams and the subsequent production of gas and water to the surface.

I guess the most interesting thing in all this, is they could possibly hit the supply demands for the RVPS based off this well alone with no further CSG field development.

The margins on the station would be pretty significant and they could fund its complete development with a small cap raising.

So..... :)

With CSG+Conventional gas, there is significant powergen potential here (see first point for opp indication).

Cheers,

SF