Ann: PEL 218 Exploration Program - Update , page-2

Carl and Neil rock.

Excellent ann imo

Factual and well worded as far as managing expectations.

"Information from the flow tests will assist in: estimating contingent resources; the planning of the next stages of the exploration program ; providing data on gas composition, etc. ADE does not expect any material condensate/liquids production from these wells."

Bit weirded out by the media on this bit though, given that neither BPT or ADE have ever officially mentioned liquids but the media have.

All my research suggest we are not in the liquids window in either of these two wells but had started to get hopes up regarding liquids after media reports suggested it was a potential.