40-100 bcf gas, spudding mid jan!

Hi all,

Iv been watching this one for a while. After recent rally to 9.5c (although charts showing overbought), it has refused to come back down & now there's even stronger support showing up in market depth. is it big boys finally deciding it's time to push this baby?

What i like about this one:

Capable mgmt - John Begg recently appointed, 30 years experience in US & the key is "a noted oil finder", MD of established oil producer in California.

Cash - 2.2ml at end of Sep quarter.

Company making project Almond Groove 4-13 well: targeting 40-100bcf gas, spudding mid Jan. SGY has already proved another 2 wells (just over 1km away from Almond) successful gas producers.

Potential rev from gas sales - current gas price $5.7 & still rising as recovery continues, let's say $6 by the time when SGY finds them. that gives 240ml - 600 ml potential rev. Each well only costs less than 450k to drill.

2 projects in production - Maricorpa generating gross rev of 60k USD per month. the other one is shut for workover, so more rev coming up when it comes live.

Current MC - 213ml shares on issue, so just 20ml MC with 2 ml cash & 2 producing assets. 2 wells already tested commercial flow within close proximity. Company is a low cost & efficient producer & explorer. but the main game is coming up Mid Jan.

GL all, should see some smart money & traders getting set for spudding in the next week or two.