Kookaburra unfortunately I don't have access to the directors like you do nor do I know any top 10 shareholders as you do. Every time I ring - no one is available and I do own a lot of shares though not as many as your friends.
Jeff Clarke in his recent BRR thinks getting the wells flowing at maximum rates is "very important". Obviously so do most investors/institutions hence the current share price.
My point re the flow rates is that they have 7 CC wells connected, but so far have been unable to establish stable high flow rates. I'm not saying they wont be able to get good stable rates out of them, but no one will pay high prices for the reserves if they can't recover them.
Once they have at least some of these wells producing as advertised, then and only then it would be safe to assume the other wells + any future wells will produce the same way.
I do agree the new wells are only to prove up 1P as I stated in my earlier post, but they have to get the original wells flowing 1st.
1P reserves is a broad term, the price they can sell assets based on 1P depends on the economics (including flow rates) of recovering those reserves. You must realise that the price they'd receive for the 1P reserves associated with the asd wells flowing at say 9mmcf would be much higher than the 1P reserve associated with Oklahoma flowing at 0.1mmcf/d
I'm sure your mates in the top 10 would have the ear of JC, ask them and I'm sure they would probably explain it to you.
If mae was to put an announcement out tomorrow that the 1st 3 wells are flowing stable at 4mmcf each - the sp would rocket. Traders like you & myself would get caught short (assuming you sold into current weakness like last time)
MAE Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
