sadie gas shows, page-26

Hi all,

Currently overseas - which usually mean the price shoots up in past years, but not this one obviously - well not yet anyway.

The decision to frac or not frac is usually made during the test procedure, not before. They will source the testing equipments as well as fraccing materials just in case they need it. In all likelihood, they will end up fraccing the well than not since as HC said, we're dealing with a notoriously tight gas play in this region. Louise was a nice exception, but I wouldn't expect free-flowing wells to present themselves in this region all that often.

Sadie is basically where Steindorf was prior to the test result being made known. Just have to wait and see. No point reading between the lines. Obviously they believe the COS is higher than 50% (more than 70%) or they wouldn't have bothered completing the well and testing it. But as Steindorf demonstrated, it doesn't mean they can't get it wrong. So time will tell. While we are being sidetracked by the US drilling, mid-year is not far away now - which means PEL96 isn't far away either :o)

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