The Tanumbirini #1 well that Santos just drilled on the top North East corner of the Beetaloo is very significant for us long suffering Falcon owners - as that well has confirmed that the mid-velkerri has the right conditions for significant gas play - if the same conditions are widespread. I have attached here below the report directly from Santos website - that compares very favorably with any of the rock/gas conditions of the big gas basins in the USA. This is what we will hopefully see from each of the three test vertical wells from Origin over the next year, which is what Origin will need to see in order to move towards a couple of horizontal test wells and if those go as hoped - then we are in the money!

"In 2013, Santos completed a 500-kilometre 2D seismic survey over the EP 161 permit, with initial results encouraging.

The Tanumbirini-1 exploration well, located in EP 161, was spudded in June 2014 and was drilled to a total depth of 3,945 metres. Multiple thick intervals of organic-rich rock have been intersected at the primary objective Mid-Velkerrie level, accompanied by significant mud gas shows. Elevated gas readings were encountered over a total gross interval in excess of 500 metres. A 90 metre core was taken and extensive wireline evaluation conducted. The well is being cased and suspended for re-entry in 2015."

http://www.tamboran.com/operations/#Australia