Nice Map TMEPersonally I like looking at PEL105 just north of...

Nice Map TME

Personally I like looking at PEL105 just north of 218, we own half of it.

Notice all the massive production licenses around and through it. Were due an oil well there later this year, could get exciting.

Further it sits directly over the heart of the pachawarra trough, known for its liquids production as its not so deep as the nappamerri. Once we peove up 218 shale and flog it off this could be the real jewel in crown for wet shale gas production.

Actually that got me thinking, as we own 20% of the post permian in 218 and BPT turn 218 into swiss cheese over the next couple of years any oil or gas they hit on the way down is ours, well 20% of it anyway.

That would be interesting to know, is whoever ends up with 218 obliged to inform us if they hit hydrocarbons in our post permian holding on the way down to the permian shales.

As shale drilling does not require structural targeting they just drop wells in on a grid spacing they will find whatever is to be found in the post permian section, so effectively were free carried for an indefinite number of wells in some of the riched conventional O&G ground in the country. See those excised bits out of the middle of 218 they are Santos production licenses so it would begger belief that we would not find something worth having if 218 was drilled out on 640 acre spacing.