Ann: Quarterly Activities Report, page-2

Some great takes from this GAS Qly-
"1,414square kilometres of new acreage contiguous to PL231
The new block(which we are calling “Rolleston-West”) contains the highly prospective Bandanna Coals which have shown good CSG potential to the north at Mahalo and to the south at Acadia, as well as previously identified conventional gas targets. Interestingly, the geology of the block includes two plunging noses, with the coals in the target area at depths within the CSG sweet spot, that is between 300 metres and 650 metres."
"Seismic has been previously acquired over the eastern area of the permit and this, together with the results of sampling by coal companies exploring in the area, enables us to move to drilling in the block without preliminary exploration.
We are currently preparing to drill two wells in the permit, to be undertaken in conjunction with the Phase 2 Campaign at Reid’s Dome."

With seismic and coal samples taken from our new granted area completed previously the next two new drills could be incredibly good if the they can prove up what is expected.
Matter of fact is if the current results from wells being tested are good and the next two new wildcat wells prove up the goods you would have to think crunch time for the BigBoys to make their play.

"Two “step out” wells from the successful Nyanda-4 well were drilled during the Quarter, Nyanda-7 approximately2.5km to the north, and Nyanda-8 approximately2.2km to the south-west of Nyanda-4(see Figure 1 below). The new drilling has confirmed confidence in the extent of the resource in the Nyanda area, with both wells intersecting good quality, gassy coals with seams of similar thicknesses and depths to Nyanda-4, and in a promising sign for producibility, evidence of open fractures"

"The results so far from Nyanda-4 and Nyanda-7 are looking so promising that the Company is starting base-line environmental studies for the development (including Central Processing Facilities), thus ensuring our aspirational timetable in Target 2023 remains on track."
The above paragraph really does sum up what is happening. Ny 4 and Ny 7 have the goods.

"The market for gas is the most promising it has been for quite a while.
The Asian LNG spot price is running at historically high levels, and there is an expectation that the go-ahead fora major new gas-fired power station, part of the Federal Government’s “gas led recovery”,will be announced in March or April this year.
A new power station is likely to take at least two years before it is commissioned, adding to the strength of domestic demand in 2023. Target 2023 has never looked more prescient."

So who continues to prove up that in near future we can answer a chunk of the supply issue for demand for Asia and power station.
GAS
Location...Location...with the prime new turf who is located now very close to major pipeline infrastructure.
GAS
In my own opinion I see 2 key players watching this all develop oh so closely - Shell Aust. and Santos.
They are allowing us to put in all the hard yards and prove up this magnificent resource.
Only a matter of time.
With the strength, power and money that both those BigBoys have they could develop this with real urgency and also make serious coin.
The longer they sit and wait the more it will cost.
Hats Off to all our team at GAS they are doing a great job at continually developing and proving up just how special this resource will eventually become.
AIMHO
GO GAS
GO TEG

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