progress, page-5

WG

Note that the secondary target is 2b drilled first as its younger (and thinner) then the Legendre SST (which is deeper & with more GIP as per the calcs)

From here on conditions apply:

1) Should the hole condition b bad upto 3200m (just b4 the thin Forestier SST) with swelling clays/shales etc, then they intend to run 9" casing in the 12" hole, simply to avoid any dramas whilst drilling the upcoming 2 targets (or any weather dramas).

IMO we shouldn't see a repeat of Heron or Blkwd as its a different formation & nearby Perseus wells didn't show any such dramas.

2) If drilling starts tomorrow nite or Thursday morning, after routine regulation safety checks since this is a gas well, then depending on avg. 150-200m ROP/day, they should see the Forestier SST aka secondary target at apprx 3200m by nxt week Tues (5 days time).

Dependin on its thinness & gas bearing nature, action will heat up for the nxt deeper target, drilling will continue on to the LG_SST.

By my estimate 7-15m net clean gas sands are good enough to fetch them 3TCF+ considering the area of the acreage. What I look fwd to is, consistent gas readings were recorded over 32xx to 33xx metres interval in the Forestier.

2) If the hole condition is good & they don't run 9-3/8" casing, instead drill all the way to TD of 3660m or close depending on how high or low the formation tops come in, in 11 days. Then its all about the LGSST.

I anticipate a lot of accumulation to start happening Thur-Fri onwards.

Thats sums up anticipated progress.

cheers