the 2p is part of a strategic review with RBC. It'll come soon and I reckon it will be good
punters here have to keeping focusing on the GAS. AMU is slowly and surely evolving into natural gas play and listed NG plays in the USA are highly valued. In Oz noone cares less.We've got cheap power, we take it for granted. In the USA its not cheap and with so much base load coming from NG plants its about to get very expensive. LNG is going to other markets and bypassing USA which is why you'll see parity in USA NG pricing with world prices. In the USA the market recognises $7 gas is history, the listed US NG plays have been in a strong bull market for years
Listing in US/Canada coming up?
so far since Jan 08 we have Hermes coming on with net 1200mcf a day. We have a range of tiddlers which will end up at around 1000mcf a day
Spike is soon to be drilled targeting 30BCF, so its 4 ot 5 times the size of Hermes, succes adds another 1500 to 2000 mcf a day
After Spike there are 4 other Midcox targets to be drilled this year similar to Hermes in size
so what does 50% success with this Midcox program mean. It will add 5000mcf a day to production by year end and take annualised production past 3millionmcf and gas revenue using $12 gas to $36million up from around $12million in 2007. leverage then gets serious with $15 gas adding another $9million pa
this is what this game is about guys. serious bucks! Towner and the Texans are ambitious. Just gotta be patient!
AMU Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
