Southern Cooper Basin Gas Project
- Klebb Phase 3 Flow Testing Program commenced
- Klebb 2 and 3 more effective at constraining the Klebb 1 drainage area than anticipated – a critical objective of this program
- Immediate establishment of gas flows from Klebb 2 and Klebb 3 post-stimulation
- Increasing gas flows measured at the Klebb pilot location
Strong Funding Position
- Cash on hand of $9.6 million on hand at the end of the quarter – fully funded to meeting current forward program.
- FY 15 ATO Research & Development (R&D) refund of $8.5 million received.
- FY 15 R&D Macquarie facility of $5.9 million repaid with the FY 16 R&D facility of up to $4.0 million in place.
- Continued strong interest in additional gas offtake.
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