cel breakout , page-32

Nice post CAussie,

Now don't see this as criticismm but just an addition to the debate.

One of the attractions of TC to me was that it is not a shale play, it is more akin to a conventional reservoir. This would mean a slower decline in production, cheaper producer costs eg. no frakking needed and a higher potential production eg. instead of 20% maybe much higher even around 50%.

Personally I don't think 10mmcuft/day likely (no reason except too good to be true) but do think a production test of 2 or 3 mmcuft/day would be fantastic and totally change the value of the company and the value of the 25,000 acres of TC dirt.

I can't see CEL being worth less than $100m if we get good flow rates. Even at your figure of 20% which implies 325Bcf that is more than $1 BILLION worth of gas at today poor prices.

And then in November (which isn't many months away now) they have a drill booked to investigate Mecury Stetson.

Yes we wait on the flow rates, this time next week we may know more.

Saltbus