holy, maybe you can help me understand the difference between why the Walloons in Pures acreage is different to those in MetGascos. I honestly dont know the difference but suspect the perm is terribly different for the coals in the CM basin?
Why do they need to drill laterals and why were Pures wells flowing 3MMSCFD (?) on a vertical well in ATP852? The answer to these indicates it comes down to perm and I think the Walloon fruit tree makes apples in some areas and plums in others, not more apples....
To be blunt, I really dont think you should comparing Pure and Metgasco together unless you can really spot the massive differences between the two stocks. If there were no differences, then I would support you inference that MEL should also be similarly valued.
Just so you know I am not a complete tosser either, I do agree that MEL is undervalued, it just bothers me when apples are not compared against apples, because then you are leading people up the garden path.
MEL has a great few months coming for it with a big farmout on the cards and hopefully the conditions will create some powder cake conditions ripe for a mel explosion.
Cheers,
SF (good to see holy back :) )
MEL Price at posting:
57.5¢ Sentiment: Buy Disclosure: Held
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