thanks bwl, once again i think that this paragraph is an...

thanks bwl, once again i think that this paragraph is an interesting part of the report....

"The acreage has been de-risked by the drilling of 7 wells with 4 wells on production. Whilst production has been below expectations, predicted EUR?s are inline with other players in the oil window, but more importantly the fraccing process is in a constant state of evolution and any potential bidder will likely hold its own view as to the potential productivity of the shale. Key to this is that the well data highlights a very thick shale (150ft+) with a high net to gross (+95%), a high carbonate and silica content (+75%) and high total organic content (+5%). Hence we believe that potential buyers will place much less emphasis than production results from the first few wells than the market has, given its expertise and appreciation for the learning curve."