Good Areas can be used to describe a outcome that has occurred or to encourage an individual. Can be used in relation to sport, or everyday socialising.
person 1: "Mate i had the best night on Sunday, got on the cans with the boys, got loose, piled in to this bird, then went to the strippers.'
person 2: "good areas!"
or in the context of sport: (in cricket - after a formiddable ball has been bowled from the bowler, encouraging the bowler)
person 1: "good areas shane"