daytrade diaries... august 31 part 2, page-88

Hi jl,

Re; BUY - The Company is looking at this Moomba drill as a 'lower risk core project', and is ear-marking this project for cashflow.

Their permit is for 1,600 sq. kms and substantial gas flows from this area.

The Company is looking at up to an additional 25cps value (10c + 25c = 35c). I am a little less optimistic on the sp and am hoping we get to see 20 cps.

I haven't read the Geo report on the area but I am estimating a t/d of ~2,760 metres, which could take ~10 days.

I would buy now on the pre-spud and hold until spud; then I would look to re-enter up to ~2,000 metres and then assess it on a daily basis. Having said all that I would also top up on bad days and take profit where you can see it!

Cheers, Pie (: