I emailed MD David Casey the other day about the resoirce prediction update saying it was somewhat buried in the presentation and may have been missed ... happily for us we bought anyway! He replied today saying:
"The recent update was for presentations I gave in Melbourne over the last couple of days and not the market in general. And yes...we are planning an open briefing very shortly."
So expect an OB soonish to capitalise on the media focus on CSG. I am also expecting that they will continue to release reserves updates as the 2008 appraisal campaign proceeds (I think they said this earlier in the year). Given that the resource predition update showed Dewhurst with potebntial for 1,624 PJ we can expect a sizeable upgrade as the 2 Dewhurst wells have been outstanding. It may be a while though as they plan multilateral drilling and may wait for those results. The OB might "hint" at their expectations I would imagine.
H
ESG Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
