REMARKS: THE AREA OF CONVECTION PREVIOUSLY LOCATED NEAR 12.4S 142.4E, IS NOW LOCATED NEAR 11.3S 139.9E, APPROXIMATELY 325 NM NORTH OF MORNINGTON ISLAND, AUSTRALIA. ANIMATED MULTISPECTRAL SATELLITE IMAGERY DEPICTS A CONSOLIDATING LOW-LEVEL CIRCULATION CENTER (LLCC) WITH FORMATIVE CONVECTIVE BANDING THAT HAS STARTED TO DEEPEN AND BECOME MORE DEFINED. A 160038Z TRMM 37GHZ MICROWAVE PASS ALSO REVEALED THE CONSOLIDATING NATURE OF THIS SYSTEM AS THE LLCC HAS INCREASED IN DEFINITION WHILE BANDING HAS IMPROVED. A 160036Z ASCAT PASS SHOWED INCREASED WINDS WITH 25 TO 30 KNOT WINDS WRAPPING ALONG THE WESTERN SEMI-CIRCLE. UPPER-LEVEL ANALYSIS REVEALS AN INCREASINGLY FAVORABLE ENVIRONMENT AS A POINT SOURCE HAS DEVELOPED OVER THE LLCC WHICH IS PROVIDING LOW (05 TO 10 KNOTS) VERTICAL WIND SHEAR AND GOOD MULTI-DIRECTIONAL OUTFLOW. ADDITIONALLY, SEA SURFACE TEMPERATURES IN THE GULF OF CARPENTARIA ARE EXTREMELY FAVORABLE FOR DEVELOPMENT (>30 DEGREES CELSIUS). MAXIMUM SUSTAINED SURFACE WINDS ARE ESTIMATED AT 25 TO 30 KNOTS. MINIMUM SEA LEVEL PRESSURE IS ESTIMATED TO BE NEAR 1000 MB. THE POTENTIAL FOR THE DEVELOPMENT OF A SIGNIFICANT TROPICAL CYCLONE WITHIN THE NEXT 24 HOURS IS HIGH.