Presentation 23 November 2009Investor Update Warro Gas Project;...

Presentation 23 November 2009

Investor Update Warro Gas Project; pg.4-5

Warro 4 and 3D Seismic: Forward Program
* 3D seismic permitting nearly complete - survey planned for Q1 2010.
* Warro4 drilled Post 3D seismic to plan Warro4 location to avoid major natural fractures in the reservoir, minimize water impact on gas flow.
* Warro4 Completion Techniques to effectively optimize gas flow with any water present in wellbore.
* Moving away from major fault systems/natural waterflows, could improve permeability of sands from not being exposed to 'cementation'
* A large, known, on shore tight gas field close to infrastructure.
* TSV is free carried for its 10% in next appraisal well,Warro4.
* Gaffney Cline Independent estimate of the field, contains 2.1 Tcf 3C recoverable resource.
* Appraisal project, to take 4-6 wells to fully establish commercial viability.


Latent:
Latent is currently obtaining the necessary approvals to drill, evaluate and develop the Warro Gas Field with the objective of achieving first production in late 2010 / early 2011.
http://www.latentpet.com/default.asp

next:
During the life of the field the Joint Venture could drill over 200 wells to produce an average of 100-150 million cubic feet of gas a day (approx 100-150TJ/day), which is approximately 10% of the needs of the South West.

The gas will be piped to the gas processing plant from various well pad groupings before being delivered to the 'Dampier to Bunbury' and 'Parmelia' pipelines 30km to the west where it will be sold to customers north and south along the pipelines.

Kim Horne, Alcoa Executive Director, Human Resources & EHS explained that Alcoa has increasing concerns around secure gas supply with 40 years of bauxite still to mine.

'We have a long history of supporting the development of gas infrastructure in WA and it has never been more crucial, not just for Alcoa, but for the sustainability of the whole State. We all need to support this project.'
http://www.alcoa.com/australia/en/news/releases/Joint_Venture_Starts_Drilling_of_WAs_First_Tight_Gas_Field.asp


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