I don't think anybody should really be kicking themselves for not seeing the deep upside - to find such retained poro and perm at this depth is pretty counter-intuitive. If you went up to AWE before they drilled Senecio 3 and told them they were about to make a discovery that would flow 90 MMscfd from a single well they'd have laughed you out of the office. People were expecting it to be a tight gas play. Instead they found one of the highest flow rates ever in onshore Australia. I'm not sure exactly how many have flowed higher, I believe the Australian onshore record is 147 MMscfd from one of the Palm Valley wells.
My mention of a reserves upgrade was in reference to AWE's upcoming reserves report, not suggesting major new reserves from W4.
AWE Price at posting:
57.5¢ Sentiment: None Disclosure: Not Held