From memory the reserves figures are required if they want to expand their funding any further.
At the moment we have good cashflow coming in but its worth having an expanded line of funding in case we decide to move to two drilling rigs etc.
We know that each drill is worth 5 - 15 bcf of recoverable and I would think that Simon and the rest will choose their words very carefully as to how they describe their first reserves estimate. I'm no expert but if it is for only 50 - 100bcf they will be very clear around what it covers and that the potential is still for several hundred bcf.
The other thing that supports the need for a reserves figure is that a number of larger investors will require one before they sink any $ into this company so again it can only do us good, as long as Simon crafts his story around it correctly.
Now we just need to wait for the RIU presentation to be released.
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