hartleys new report, page-31

Meerkat, I cannot believe the things you write at times.
Since listing on the ASX, HOG has a producing well, all in the space of 8 months.

The wells take 5 to 6 months to drill. What do you suggest they should have done?

These wells are some 4.5km down. They are not drilled over a matter of weeks but months.

As for one of your previous posts about the manangement not giving you a timeline, well there is plenty of information there all telling you what they plan on doing and when.

How many junior gas and oilers are out there? They would take HOG's success in a heartbeat.

You are correct with the PE and lets talk about it.

- We know the producing well isn't operating at maximum efficiency, so there is more room to the upside.

- They will be spudding a second well at Sorochynska soon (June 2011) from memory, which management are confident will replicate the success of the first well.

- We know the reserve report will be out soon as we have had 90+ days of production

- Chernetska is being drilled as I speak

- own plant to be built and save or increase revenue by 17%


- Based on today's market cap, it's debatable whether we're valued correctly for the one producing well. Everything else I have mentioned isn't factored in at all.

It's false to say there is nothing that will move the sp soon. The Reserve Report and the June Quarterly should attract newcomers.

The company is now profitable and may re-invest profits on building the company to becoming a mid-teir producer.

I'd love the sp to be at $2 today also, it's not but I am more than happy to wait