Ann: Lawford 1 in Canning hydrocarbon play to be , page-15

re: Ann: GRK: Lawford 1 in Canning hydrocarbo... Hi Bhutos

Laurel project is a serious one. It could be alone a company maker. See the figure 1 graphic on my post above. It is shown on it that there might be more than 2 TCF gas in EP-417 and Seven Lakes SPA tenements. The export price of 1 TCF gas is nearly $10b (WA dometic sales price is $700m for 1 TCF).

Conoco has already spent couple of hundred million dollars in their Poseidon project for finding 7 TCF P50 (50% probability) (and 3 TCF with P90) and they have 60% share in that project (40% Karoon Gas).

2 TCF gas potential makes Laurel Project a serious one. Being on-shore makes it more attractive. Laurel shale is the formation where Buru is mainly playing to find the oil and gas in that region (Fitzroy Through).

There will be no shortage of LT buyers here. We will be always waiting to be helpfull to the sellers by buying their excessive share when there is a weakness (:-))