now you can have an update, page-6

cefadog...

Interesting post.

I mentioned yesterday that I suspected management were actually expecting a price rise, not fall after the announcement...what you say confirms this view.

All the same however, it would help somewhat if the announcements were a little more "full" of all the facts at hand rather than a dumbed down selective version for the markets.

It is this fear of not getting the whole story that creates doubt in the market's mind...and untiately renders it susceptible to such "activity".

For example, what did the gas "shows" in Leadville correspond with on the seismic interp...how do they relate to the mud weights currently in use...were the "shows" recorded from drill bit monitors or assessment of return muds...and what is the specific nature of the "squiggly lines" as targets in relation to formation group?

Need to talk the market through the results so they will not react the way they did..or at least, will not allow themselves to be conned by manipulators as they were on Monday!

It appears some parts of the market are expecting hydrocarbons all the way through Leadville...whereas even in the massive Lisbon field, they are lucky to hit say 20-50ft out of 250ft or so...and almost never at the top of the structure.

It appears to me Leadville...and indeed all the formations below the Alkali Gulch memeber, are much thicker than most other regional locations. This possibly suggests unusual depositonal influences on a localised basis when the formations were originally layed down at surface...a sort of geological sink hole which has resulted in much thicker formation characteristics.

I hope they have to keep drilling for another month to get to the bottom...they are in my view effectivelt breaking new ground here in a regional sense...certainly none of the surrounding holes have gone anywhere near this deep...so who knows to expect below?

Anyway, in my view, the main target formation for leadville will be hit over the next 48 hours...but even if this too is tight and non-productive, we have in my view an even better target ahead in the McCracken Sandstones.

I really do not wish to become too fixated with "what lies below" however...as it is effectively setting the market upo for yet another sell-off as we saw Monday!

A ridiculous situation given previous results, in my view, will support $3+ prices!

Anyway, I had to sell a few other good stocks over Monday and Tuesday to load up during this crazy sell-off...long-term I know it was a good "investment" due to the already commercial nature of the well (and field)...lets just hope I also made the right choice in "trading" terms?

Cheers!