the most chatter on the dempsey/alvares prospects has been on...

the most chatter on the dempsey/alvares prospects has been on the XST board

john begg was originally on the XST board, he brought the project to SGC and XST

Mr. John Begg is a Co-Founder of Bombora Energy Limited. Mr. Begg served as the Non Executive Chairman of Xstate Resources Limited from July 2010 to February 2011. Mr. Begg served as a Director of Xstate Resources Limited from June 10, 2010 June 10, 2011.

i have been in xstate and invested on the basis of the 2 wells being drilled at dempsey and alvares

many years have gone by and SGC did not manage to get the farm in done. so XST has moved onto a new direction and still has the dempsey/alvares gas targets in their exploration portfolio

i have not researched the other Bombora ventures other than the Tuliyano /CRC deal.

Tulianyo - Demspey - Alvares are really following the same structure. in 1940's Tulianyo was drilled, its one of only a handful of deep wells drilled in california. in the 1980's the James well was drilled (Alvares) also a deep well. both were targeting deep oil. but they had massive issues in both wells trying to get through the overpressurisd gas zones.. all that had been forgotten and ignored as gas was not on anyones plate back then... CRC and Cirque resourses did a JV well called tulianyo a few years back. never got past 5000 feet. they found heavily overpressurised gas. since then CRC has been trying to find partners for their discovery. John Begg recently undertook to go in there...

Alvares is further north, all similar geology, same well issues at the James well site drilled in the 80's. Alvares is a discovery, we just need to go there and develop it... dempsey is exploration. similar structures deep... it will strike hydrocarbons and we just have to wait to see what rates it will flow and whether it will be commercial.

bombora has been trying to get back in as many partners were under-financed. Bombora has been leasing vast regions to cover the regions where these multi tcf targets are... bombora had to get on the ASX to be in all of this, failed a few times... but is trying again here

best of luck, the portfolio is vast, the california gas is the best of it. its going to happen in the coming 60 -90 days and most of the deals except the crc one are on reasonable terms