clearing the decks, page-2

Well the way I read it all is not dead and buried!! Maybe nothing from the recent drill but looks like they may be drilling others in the area to me!

If you read this piece in it's entirety you'll know what I mean!

Recent preliminary post-well analysis by Santos suggests that the estimated size of the Winchester discovery,
by itself, to be insufficient to be developed economically. Further contributions from possible deeper or
adjacent hydrocarbon zones to the Winchester location would be required to augment the resource.
Additional prospectivity on the Parker Terrace, within the WA-323-P and WA-330-P permits, exists in the
Triassic Mungaroo Formation deeper within the Webley Horst below the TD of the Winchester-1/ST1 well. It
also exists on the Wilcox fault block in the northwest of WA-323-P where seismic anomalies, similar to those
encountered in the Wilcox-1 gas discovery, have been mapped. There is further prospectivity in the Parker
tilted fault block. The Parker-1/ST1 well, located 3.2km to the northeast of Winchester-1, in WA-330-P,
drilled a separate structure and encountered gas shows in Triassic, Mungaroo Formation sandstones over a
211m gross interval. These were not logged or tested before the well was prematurely abandoned.
Reprocessing the Winchester 3D should enable a better definition of the Parker fault block and may also define
additional Triassic targets in the north of WA-330-P and in the vicinity of the Parker-1 well in particular.
The Winchester 3D, acquired in 2011, by Santos showed a significant improvement on existing surveys, but
the processing was conducted over a short time period prior to drilling the Winchester-1 well. It is understood
that Santos plans to reprocess the 720km2 Winchester 3D survey in order to improve resolution for the
purpose of selecting the next drilling target within the WA-323-P and WA-330-P permits.
The discovery of gas bearing porous Tithonian, Angel Formation submarine fan sandstones in Winchester-1
extends this prospective play from the Dixon-1 oil and gas discovery well, located some 23.5 km to the
northeast, onto the Parker Terrace.