question, page-17

Melua,

Good sense coming from you.

The punters certainly bolted for the door for little reason.

Mybe it was the word "inconclusive" that did it and maybe the author wishes he had chosen his words better.

The result so far is good. Its the gas zone so not surprising gas is dominant so far.

There is of course 5 more zones still to be opened up or perforated should they wish or need to.

High pressure it is and this is typical of the salt dome formations and ceratinly typical of other discoveries around this particular salt zone.

Flow will probably increase but time will tell.

If the numbers released today remain constant then their share of the well head revenue should be about $US2M a year. If thats a failure (day trader interpretation) then I'll take it. IF they did no better in the other 5 zones then they will be grossing $US10M from the total if all zones were perforated.

But these salt domes are prolific producers over 40 year type life spans and with great pressure. I'm betting that the numbers will get much better than this initial good result especially when the hit the oil zones of interest higher up the well.

The only thing I might question is your low valuation of 16 cents. Once the size of this is known I think you may find that the company's vauation figures may be achieved.

The punters screaming for the exits better get the arses back in is my call.

Would help if the company writing the reports would remember that many of their readers dont do what they do for a living and a more expansive explanation (carrot in front of Donkey stuff) would be useful.

They unintentionally spooked the horses I think.

This looks like a good start to highly likely commercial well. In fact they only need to sustain the current flow in this single zone and it looks commercial.

Damn good buying at current prices