Seamfiend
Gawd, I am glad I wasn't in Geology 101 with you if you feel your knowledge/interpretation is average! Excellent post.
The X Factors with MEL imo are a) being positional play maker centrally within the CM Basin, b) having advanced planning for the Ipswich pipeline and c) the prospect of significant conventional gas.
As I am sure the conventional gas source is widespread migration from deeper coal measures and as MEL has already mentioned they can see something like 20-30 structural targets (where the migrated gas may now be trapped and pressurised) there is reason for justifiable optimism imo.
Cheers
Dex
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