ede - game changer!, page-20

LOL stocktoe.......not a worry mate, MCF and MMCF are a bit confusing.

Just multiply your answer by 1000.

Which is a lot bigger number.

However, as pointed out here there are numerous mitigating factors.

The gas pressure in the USA is ~ 6000psi which allows the recovery from fewer wells but the wells are ~16000 feet which is a long way down. In the UK, the pressure will certainly be lower because it is very much shallower so wells do not have to be as deep but for good recovery will require more to be drilled, closer together. Cost of development of the resource might be less because while there have to be more wells, the cost to drill a shallow well is not pro-rata with a deep one. As I pointed out in an earlier post, the heat content or "quality" of the gas is important, bit like 98 octane petrol vs 92 octane petrol. 98 costs more because it has more bang. Additionally, most shales have oil (kerosene) hydrocarbons and potential recovery of the shale oil can impact on the price of the resource. Do we have oil? I'm not sure.

Multiplying your calculation by a factor of 1000, I think, is not a good expectation for the resource. I did the math and came up with something like $2.64 per share as being possible, but we have to prove up the resource a bit better with much more information needed to put it all together.

I am not experienced enough to make any other than general commentary based on previous experience with oilers and gassers.

Needless to say:

WE GOT GAS

I have held EDE now for Ummmmmm...three years or more. I see no need to leave now.

Cheers.