Cheers PB:))Beach will more than likely announce next Wednesday...

Cheers PB:))

Beach will more than likely announce next Wednesday that fermat spudded over week end.

Essential will probably anns 12.5% very shortly.

Neate may or may not be in a position where liquidation is required at certain numbers not necessarily within his complete control....read that as you may.

As for arriving at sp numbers.

Who sells a million cubic ft of gas for 30c ?

And where can I buy it ?

But seriously, there are some serious zeros missing from that research, just as an article that I read in The Australian last month stated that WA's gas usage was 1,000 cubic ft per day.

150c sp ( 126 cents for dry gas ) is based on 25% share of 70% recoverable.

If and when the 12.5% farm out is announced, then halve it.

Plenty of risk here, but those anomalies are very significant...we will know in a matter of days.. Fermat has the potential for a very happy new year...Beach were certainly keen to move the rig with a sense of urgency....

On top of this we have ew gas and condensate buyer tba.