solid close to the week, page-11

Thanks Nursery - I assume the established "oiler" you are talking about is ARQ (now AWE)?

I note AWE are talking about shale drilling in WA so could be interesting!

You say the the extra potential of the additional areas is already priced into AUT (obviously on a fully risked basis). So further upside as risk is rerated.


I agree all 3 JV's are signficantly derisked from 6 months ago and now I believe its all about the ability to fund the forward programme. We need to wait for flow rates etc but this play requires significant capital based over the sizeable acerages. (not sure what the latest drill per acerage ratio is - from memory something like 1 hole per 600 acres).