CEL
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3.70% 5.6¢ challenger gold limited

2300ft gas

  1. TwinTurboCelica
    10,101 Posts.
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    21/01/11
    11:55
    Post #: 7771997
    Nice announcement today. It will be interesting to see how the stock goes today and next week.

    Looks like they may have to drill horizontal in the Ellengurber (which will be the plan for all upcoming wells).

    Very cheap at current market cap compared to lesser shale type plays.

    Dissappointing they didn't hit a fracture swarm, but this first drill has proved extremely positive to show gas on the tenement. Also great to hear they are looking to go horiztonal on this well. Should be good news flow in the coming weeks and months.

    Looks at the value from the presentation and you get NPVs at many dollars a share price.

    The share price could go anywhere today, but I've now got a solid stake to hold for the coming months and reap big rewards from current share price.
    CEL Price at posting: 18.5¢ Sentiment: Buy Disclosure: Held
    Likes Created with Sketch. 8  Upvote
    lightbulb Created with Sketch.  Great analysis
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