Maybe a little positivity needed. We should still have $31M net...

Maybe a little positivity needed. We should still have $31M net cash by 30 June 2012. AGL put the pilot on flow test in early May 2012, so we may see some gas flow data (but AGL may wait for a full 3 months of flow data before releasing information).

We shouldn't necessarily judge the pilot gas flow data by the aggregate gas produced, as the 5 wells have differing completion techniques.

The wells have been on pump for an average of circa 18 months as at 30 June 2012, which is still consistent with the operator AGL's expectations, as the Galilee Basin has longer de-watering periods than the Bowen and Surat Basin.

Not all is lost.