Sole-4 update

Rig is now at Sole-4.

Progress since last update was that they had drilled the 12.25" section & set the 9" casing to depth of 1094m just above the Reservoir.

As mentioned in the conference call by Duncan, drilling into the reservoir was to start last night.

Test planned by end of the month once logging & running completions. Should be wrapped up by early August after which they'll do the abandonment work on Sole-2.

H2S from the gas (apprx 1000 ppm) will be removed onshore at the Plant and Sulphur will b separated from the sales gas. They were happy with the Sole-3 flowrates as per their pre-drill expectations.

Overall, Sole commissioning should b done by late April 2019 with sales starting around June/July.

FY'19 sales volume of 1.4 mmboe doesn't include Sole estimates yet and will most likely be from July 2019 onwards, i.e, 4 to upto 5x times sales volume uplift for FY'20.
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There were couple of questions from JB from Canaccord. Other then that nothing new. Casino gas tender from 1Jan2019. Expected gas price will b around AUD 8-11/gj. Short-listed the parties. Drilling of Manta deep & 2 Otway wells planned in 2020 & these will b the first wells drilled offshore Otway in 12 years.
That's about it.