poiseuille's law and other stuff, page-27

Total dry hole cost to drill the initial well is approximately US$1 million = AUD$1,125,000.

From latest announcement "Initial flow rates up to 1.8 million cubic feet of gas per day and 56 barrels of
condensate per day at a 6/64 coke have been recorded."

Steve Graves 'apparently' stated "this flow alone so far would pay itself off in the first 2-3 months."

So assume 60 - 90 days to pay off $1,125,000 = $12,500 - $18,750 per day in revenue. (average = $15,000 per day)

Dis first post states:

" 56BC = 56 BOE (approximately)
1800 mcfg = 1800 x 6/75 BOE = 144 BOE *
Total= 200 BOE *

* BOE is cash equivalent terms. Pricing at $6 per mcfg and $75 per BO "

The numbers correlate precisely... just wanted to point that out.

:)