1. Realistically we were far to optimistic to expect big ip rates in the first few wells. Fraccing is as much an art as a science.
2. The improvement from 1h to 2h was very good and Tim is correct in saying we have 75% success rate in terms of being economic. I want to see further improvement from 54-1h.
3. If we hit 2000 bbs a day the share price will rocket.
4. We need better transparency to the market. Tim said today what should have been said two weeks ago. Tim could have told the market we didn't get the first well right but we have learnt a lot. He'll get the backing of us long termers if he keeps improving, and we think we can rely on him
5. More regular updates to the market, initially I thought fortnightly but now I think weekly. It doesn't need to be forever just until the market thinks we can produce. More regular updates will give those messing with the share price less opportunity
MPO Price at posting:
39.5¢ Sentiment: Hold Disclosure: Held
