Outstanding news on ATP 852.Holli 1 30m net coal, upwards of...

Outstanding news on ATP 852.

Holli 1 30m net coal, upwards of 7.5m3 gas content, high permeability indicated from water injection. Fields to east and west would indicate most of the tenement will be productive. If its like Lacerta (similar footprint) that would be 1500 pj of 3p.

They already have determined its ripe to go forward to flow testing at Dingonose and Duckwoth in ATP 806 with GIP estimate of 750pJ

If they only ever produce a bit over half this amount of gas and never find another spec of gas on the other 20 000 plus km2 of ground they have to explore ? , that is already 1000pj. If that is costed out at a very conservative $1 million per PJ (average wholesale value is about $3 mio per PJ and going up) = $ 1 billion NPV versus a mkt cap of something like $40 million diluted..

Not without risk, but it just got a lot less risky as of yesterday the potential return just quadrupled IMO. DYOR

No doubt in my mind AOE will want to move up its stake to 25% now.