ny fracking update, page-17

Thanks for the speedy reply Littlecorn!

Yeah I agree the management of AJQ have done spectacularly well in dealing with what can sometimes be patient testing groups like landowners etc. especially in NT. EEG will hopefully gain some ground when the university study finishes in regards to their tenements.

In regards to the 5000BOEPD I dont remember seeing that but I'll take your word. From the latest quarterly they are predicting a spike next year then roughly the same volumes/annum for every year until 2018 so they are predicting to not meet that target in the next 5 years apparently.(disappointing)

As for the fracking yes I also read about how tedious the permits will be to get, however I believe 3/4 counties that EEG's land lies in are pro-fracking so atleast thats one thing in its favour. The other possibility is ofcourse EEG just sells the land without a permit to a major company like BP/exxon etc for a pretty healthy sum of cash, to both pay down MAC facility and explore the potential of NT.

EEG management have done a wonderful job with hedging though, $/MCF remains at $6+/MCF even thougg price is well below that. good to see.