I am generally posting to the LSE board these days, but having been an owner of Petrofrontier, (and also losing a little money on that one like Patchhand), I thought it worthwhile to post a reply to patchhands comments. The comparison of the Beetaloo work plan and Statoil's unsuccessful drilling in the Georgina Basin are not even remotely similar.

There are allot of differences between the Statoil objectives in the Georgina Basin and what Origin has planned for the Beetaloo. Statoil was going after oil specifically in the Georgina Basin - where permeability would need to much higher to get conventional and non-conventional thick oil flowing - than was found in the couple of test wells drilled there.

In the Beetaloo - Philip has known from the Hess seismic results, and from the Shenandoah #1 well - that natural gas is going to be far more prolific and much easier to flow (from the Velkerri formation) than oil ever will be. That is why the JV license with Origin and Sasol was very specifically written to mandate that gas in the Velkerri would be the main target of the first nine wells. It is also the reason that Inpex picked up Falcon's left over lands to the West of the Falcon properties with the view to developing gas for the LNG plant in Darwin. It is also gas that Santos is going after with their successful test well results from the Velkerri formation just to the Northeast of the main Beetaloo Basin.