the golden gas play, page-6

Tildesley

Correct me if I am wrong on the figures given out by IMP I can not see how this is very profitable.

1800 gas producing wells.
6500 mcf/pd = 3.6 mcf/pd per well gross.

If that creates a net profit so be it but my research says it does not so it will be interesting to see the financials.
I have queried those figures in the past and received no answer.
It does not add up. In all honesty if you could sell all the land they have at the current price why would you not sell it.
I agree with you all that I do believe the SP will rise in the near future only on their asset value. Buying IMP at current price is cheaper than buying land in America to gain access to O+G. Should there be a company interested.

Strange comment by Chairman they are going to use the money to buy more land at depressed prices to take advantage of the Global Downturn. A little contradictory I think.