Even when Nat Gas was at $6.50 IMP were making nice cash...

Even when Nat Gas was at $6.50 IMP were making nice cash flow.

These current wells are going in at less than $250,000 a pop, because they are using their own drilling rig (and rigs are near impossible to get in USA in the current climate of rising Nat Gas).

They estimated nice cash flows for these current wells if Nat Gas was around $7.50 a Unit but is now up around $11.50 per Unit ...a very nice extra bonus profit.

Now, consider the sale of IMP's 5% BMX shareholding to takeover merchant Cristal for 32 cents/share. This will add $14 million cash directly into the coffers within the next 4 weeks. Nice too.

Then there is that Macquarie Bank $100 Million line of credit that is on call at anytime IMP wants to use it to buy other "Acquisitions". Nicer still.

Then we have 15 more Nat Gas wells to go in this currently funded drilling programme, with a batting average of 100% so far. Even nicer still.

Weather's fine now in early USA summer time (after a more than average wetter May). 9 compacted pads ready for IMP's mobile drilling platform ...with its high speed drill ready to go 3,000 feet deep in less than 10 days, at a flick of the switch. How much nicer does it get?

Well, don't forget, that through Company acquisitions already (that were bought by IMP for a song), IMP has in excess of 130 Commercially viable cash flowing wells already flowing into the North American Gas Grid (right on the doorstep of the biggest populated areas ...who by the way ...will be paying even higher Nat Gas prices than the current $11.50 ...when the wintertime comes and people turn on all those burners to keep their tootsies warm). That's even a lot nicer to look forward too.

How can it possibly be figured that they aren't making a profit?

Shares should go above 2.5 cents this time. Last time they reached above that on only a 10 well drilling programme and they didn't have all that other cash reinforcement at the time.

Warm regards,
Mr Muzz