Being a quiet arvo, I thought i go back through my maps and...

Being a quiet arvo, I thought i go back through my maps and update them and get reacquainted with we stand. Based on current info at hand, here's what NWE are holding varying percentages of in the Perth Basin alone (I'm ignoring the permits in Wessex and the Vulcan Sub Basement for ease).

We hold some pretty good real estate here, with AWE and Origin holding the bulk of the most prospective permit's in the area.

The part I'm most interested in is the fairways roughly shown in Blue and Red parallelogram's. These are the area's that AWE are VERY keen on, as they believe the Blue area is the extent of the Carynginia shale and the Red is the extent of the Kockatea shale.

I'm hoping the 1st frack of the High Cliff flow's and it can get up and running on that alone.

Being just 12 km's odd from a major pipeline to potentially feed gas into a starved, highly priced domestic market suits me fine.

As the gas is expected to be dry, any success would mean a fairly simple, low CAPEX project to get the stuff to market and with the partner's NWE have i don't think finding funding would be a major issue going forward. Being taken out by AWE or ORG would be the main concern. If that should happen the SP would be multiple's of what it is today anyway.

Among my O&G holding's I've plenty of spud's and fracc's coming up this year, but looking forward this is the one that interest's me the most.