This was a clarifying announcement. They had previously implied possible drilling by end of 2009. Now they have stated, as some believed before, that they are going to organize a complete drilling program with funds supplied via a JV partner. This should see EXE through to at least the end of 2010, with EXEO possibly bringing in $10,000,000 + when the options are exercised in 31/03/2010. Watch for some deal with other Galilee basin companies that have backing, i.e. BUL has KOGAS. AGL is at Rodney creek. If this goes to 10 cents before the announcement of JV - probably end Jan or mid Feb, I will be buying more!! Enjoy Christmas and be patient waiting for the JV announcement. The deal management strike here will indicate what this company will be like good or bad in the coming years, a defining moment.
EXE Price at posting:
17.0¢ Sentiment: Buy Disclosure: Held
