Evening all. I too am frustrated with the lack of news. This shale thingy is a big suprise. It is a nice suprise however although the timing is unfortunate. If Newell & Assoc had been able to get their reserves upgrade report out pre chrissy ( provided it's good ) and if the general market hadn't been doing backflips , we may have welcomed this new shale ann differently . I suspect we would be applauding management. The reserves ann must be pretty close now ! Provided the company can avoid a takeover in the future , I think that this diverse reserves strategy may well pay off handsomely over a couple of years. It probably means a bit more short term pain though. As far as takeovers go , perhaps because we currently have no contracts in place and only small gas sales , we are not as attractive as a few of our competitors are ?? As many have posted , potential is great but revenue or certified assets are the valuable commodities. As much as I like the shale ann , I hope that this diversification hasn't distracted management from the main game. If nothing else , it's going to be an interesting ride!
MPO Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
