this is what is driving the sp rise

In an ASX announcement dated 18/11/05 KBO stated:

. Gas in Place (GiP) estimate of almost 1000 petejoules for just 15% (68 sq km) of their 460 sq km Lorraine Coal Bed Methane Permit in France.

. Application has been sought for a new permit covering an adjoining extension to the south of a further 528 sq km.

. The data for the current GiP is considered unusually reliable and a significant GiP estimate increase is anticipated.

In a more recent announcement, KBO informed the market that gas prices are abt 4x higher in Europe than here in Australia. I think the same announcemnt reiterated earlier advice that the Lorraine gas was close to existing distribution infrastructure networks and large population centres.

KBO referred ASIC to the above announcements in response to two recent speeding tickets (oh duh). A name change to European Gas Limited (EGL) is imminent.

The new substantial shareholder announced to the market last week is Golden Prospects PLC of London ... these guys apparently have a good track record in equity positions in emerging resource companies. They has a substantial position in Perilya Mines P/L (PEM or PEL I think) here in Australia as well as in a gold producer in Canada and in Jubilee Platinum in Sth Africa.

KBO morphing into EGL and becoming a European gas producer has significant re-rating plastered all over it imo. It make sense to me.

Can anyone shoot holes in this story? Can anyone put some sort of relative scale on their current GiP estimate of abt 1000 petajoules? Petajoules mean diddly squat to me lol. Remember, this GiP is for only 15% of their Lorraine permit area and abt 7% if they get their permit extension to the south.

A five fold sp increase to $1 by yrs end isnt out of the question imo.

cheers
Poyndexter