poor show, page-3

I agree that this should be the bottom and likely to only go up from here.

Hopefully the flow rates will be known in the next week or so. If they get the 1mmcf/d or thereabouts that they expect it should be very positive for the SP as the next 9 wells on the prospect are then "development" wells and are likely to give similar results. 8-10mmcf/d is big bickies for a little company - about $A40-$A50K per day cashflow ($A18 million a year), most of which is profit - which would be pretty good considering a fully diluted market cap of $39m at current prices (also woudl get $25m further capital from option conversion).

Also note that new nearby land acquisitions allow for lots more wells. I presume they thought the prospects were very good to have gone on a buying spree of nearby tenements following completion of drilling.

I am happy of course for other holders to dump their shares on market as I'll take more at 30c/10c options anyday. This company may be paying a 20-30c dividend within three years.