esg quarterly confirms pel 6 well sites, page-16

mowibble

I have asked OIP about this and my impression with Kurrabooma is that they were testing to see what coals extended that far west and whether they were gassy. The Coreena Coals were found and they were gassy. In this way it was like a "step-out" well from the known Hoskisson and Bohena fairways.

Kurrabooma and Moree only went to 500m and their main purpose was to test whether the coals that were expected to that depth were gassy. There are deeper coals. I note for instance that the prospects to be drilled in PEL 6 later this year include Maules Creek Coals (Bohena and Hoskisson most likley).

Big upside in the next 6-12 months but you will have to be very patient as drilling in OIP's leases is NOT top priority for ESG.

H