Remember linc energy and the 200billion barrel resource around...

Remember linc energy and the 200billion barrel resource around the corner in the arkaringa basin.

Or even closer would be Icon and atp855 with 300 tcf apparently. Doesn't matter how big the resource is. At 11million a well i seriously doubt any csg well will be economical. Then add at least another 1-2 mill in field infrastructure and processing. Thats just shy of 15mill a well on average across a full field development. Add(or minus) 50% ch4 saturation. Economics make a project not the reputation of directors.

Galilee shallow csg will be economical before this is.

Even if they get gas flowing with jaws, they would of been loosing bulk coin supplying orica gsa. As the well head cost would be well above the gsa price. Not to mention the fact that the pre payment agreement was not water tight regarding this potential binary outcome is another slight against previous directors.

The only way this SP is going up will be through a share consolidation, aka CTP.

The perma bulls are putting way too much faith in directors (again) and not paying any attention to the fundamentals imo - something psi has been correct on the whole time. And continue to note not to buy the new team 'rosy ' projections. The $/gj at the well head and field processing will be low, other projects getting sanctioned filling demand. Likely dilution /CR over thr next 2 years.

Ps - I've sold 80% and probably offload the rest soon

Pss - none of permabulls seem to be druelling over the latest ENN article about strike - back to basics. Would someone kindly paste it in.

Best of luck to holders but this going to 3c. Then maybe 30c with 10:1 consolidation, then back to 10c. Even mentioning $2 is some sort of bad joke at this point