Tricom report is very comprehensive
- looks like the tax regime is even better than I thought with the gas development being in effect for free - I thought it only helped in explo cost offsettings
- didn't realise the USR program was on hold for now - despite the lack of flow rate success, it seemed they had actually got the hang of how to physically do it, so I thought a couple more may be on the cards
- we may end up with nothing out of the new USA stuff but then again we may end up with a hell of a lot - the low price paid and to be spent later seems fair enough to take the risk and leverage the Selmo cash flow
- overall - same view - Selmo backs the $1 and we get gas plus the california gamble for free - we're entitled to 3c in a month too don't forget
- latest gas well result overdue - don't know what to read into that though
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why so cheap, page-16
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