Ann: Fourth qtr results announcement and update conference call, page-3

Worth listening to the update call ... question at the end was fishing for any detail on Orbost plant work being behind schedule ... no doubt brought about by reference that the "Upstream" (i.e. our bit) work being on schedule and under budget and that FY19 product estimate excludes Sole. Addressed with steering committee (i.e. COE & APA) meets every month, last was 2 week s ago, and project is on schedule for Orbost plant to receive commissioning gas in April 19 and first sales gas from July'19.

Pricing of gas during the Qtr
Total Sales = $19.6M
Total Production = 1.49MBoE
Total Oil = 64.7MBO
Avg Oil Sales Price = $102.57

Therefore Oil Sales = $6,636,279
Therefore Gas Sales = $19,6M - $6,636,279 = $12,963,721
Gas Production = 1.7PJ
Therefore AVG Qtrly GAS PRICE RECEIVED = $12,963,721 / 1,700,000GJ = $7.63/GJ

That's in-line with modelling and as I hear it, prices are going up. Happy to be corrected if I have messed it up.

Of importance to me
* FY19 has the C-H development well, and Manta appraisal
* FY20 has the 2 exploration wells hitting those bright red spots (DHIs) in the seismic inversion. I believe I heard 80% success on the call (but my hearing gets selective from time to time). These are the babies to take advantage of Minerva investment. Then comes Manta treasure.
* FY21 is another possible jewel with the Vic P72 prospect.

Not surprising to see the reaction to date.

And Orbost plant specified to handle 3,000 PPM of H2S. I see Sole-3 was only at 1,000PPM.