Something that has just come to mind from the AGM that might help those worrying about commercial flow rates and reserves etc (everyone??). In answering a question as to whether 470,000 scfd was a comemrcial rate DC said yes! He also said that the economicas would be aided by two other things: 1) Certifiers have signed off on 1 lateral to drain 1 square km and 2) The additional cost of tapping the other two seams was minimal ... I think he said they could do additional laterals in a matter of days at $40k/day .. and that's cheap!
In much of PEL 238 where reserves are deliniated so far only on the Bohena seam, both the Namoi seam and the Hoskisson seam overlie this seam. Once we have enough data from the BW West trilateral for the Namoi seam .. I expect another significant upgrade. This pilot came online early 20/11 (but some early data was collected in June/July when drilling was first completed). So we could see enough early flow data for some of this seam to be included in the 31/12/09 upgrade or in a later upgrade perhaps within 4-6 weeks .. so in February sometime.
H
ESG Price at posting:
80.5¢ Sentiment: LT Buy Disclosure: Held
