what are your thoughts clarence gas discovery, page-41

Newland,

In all honesty, the lack of cash doesn't impress me, although income is not forthcoming while just an exploration company. Obviously this is why:

1. They got rid of any non value adding tenements (which was chewing up funds); and
2. Focused their attention on the CMB and in particular, Talma. Shallow and not as expensive to bring into production (if it sustains flow). Still think there's more to Annvale but that one will have to wait for another day. IMO depths more inline with MEL's Kingfisher - conventional.

Both the above make good business sense, but no genius decision.

I do like:

1. The fact the potential resource is in the sandstone. The Walloon Coals are known quality gas producers and to be able to tap the gas from the sandstone sponge above would be a huge benefit. No identified seal though?? That is, what's holding the gas in........?

2. It's not on Agricultural or Farmland. I need say no more.

All in all, I'm comfortable that my research is more "comprehensive" than the companies PEL 457 REF.

Dean,

No offence intended, I guess you surprised me a tad. You rarely post and yet pounced on the opportunity, that's all. You know what they say about "curiosity" :)

As you know, I've always maintained a positive view for the long term. Haven't changed my mind..........

Have a cracker weekend all,

Gaspew ;)