perspective, page-9

Diceman.
The last C/R was done at 5c.
If you what to see just how savage the market can be on shale shocks. Just look at Icon.
Beach and Icon's 14 stage fracc in the Copper (not one stage tested separately) got the highest gas flow in Aussie for shale at 4.2mmcfd.
Icon shot to a high 28c.
Weather and a "problem with the piping" saw them report the flow had dropped to around 2.4mmcfd.
They got slammed!!! They are now at 15c and looking shaky if that will hold. This, with Chevron as a partner committing $35m

TBE
I'm surprised you haven't been following the Cooper. Horizontals have already been drilled and are waiting to be fracced. AWE has plans to put their Perth basin shale well into production (1.3mmcfd)

I know you were in NSE. You have seen for yourself how hard the market can be on shale and NSE has a monster as a partner. Or though the lack of Due diligence it did on the drill operator had a lot to do with where it is today,given BRU wouldn't use them
NWE went to the trouble of getting the best to Fracc. Heliberton.

If you believe this field will be put into production.
Then Lucky's point is valid if applying a long term trading strategy to it.
The different strategy's of how to play it. Is up to every individual.