Ann: Change in substantial holding from SVW, page-60

Spec, the discoveries in 513 just keeps rolling on. Very good news. I am interested to see that the fairway is rolling toward the BPT/DLS permit in PEL 107, no doubt this will be an area of focus in the 2016 exploration budget. Do you know if seismic work has been done in this area?

Also, I note that DLS has agreed to sell 70mmscfd of gas to STO from PEL 513/106. On a comparative, that is about 27PJ of gas per year over the 10 contract years, which is just above the 25PJ that BPT sell from the SACBJV and PEL 107 (Middleton). When DLS talk about building a sizeable wet has business, they aren't kidding...not sure what the wet gas discoveries have found to date in terms of reserves but DLS will need 250 BCF and the JV overall needs to find 625 BCF. Looking forward to the reserves statement in August.