GAS 11.1% 12.0¢ state gas limited

Ann: Target 2021 - Drilling and Testing Planned for Reids Dome, page-2

  1. 3,546 Posts.
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    This announcement appears to be very good news for shareholders. As discussed previously when RC was appointed these wells are located diversely and as such are more as exploration/delineation wells than production wells. 2 wells will be production tested but that is needed for proof incontrovertible WRT the viability of the field. CSG @ these depths is pretty banal these days, Materials required are pretty much off the shelf items. With a topographical map and seismic maps I would expect someone of RC's skills would be able to knock up a field plan in short time, heck you could probably feed the data into a computer program these days and get a field plan in hours and this would not vary substantially from any number of potential buyers. Thus this planning would appear to augment the sale of GAS, especially when combined with ongoing pipeline preparations. I am not fully comprehending the statement "options for cooperative delivery of necessary infrastructure". Any views on this I would appreciate. In regard to timing this appears imminent as we have only 1 month left in the third quarter so all drilling should be complete by Xmas and hopefully before the wet season so we can expect some good news and SP gains to boot. So all in all this announcement covers most of the expected bases IMO and in the worst case scenario and we have to go it alone then gas to market in 2021 is not a long term option compared to so many other examples we see, even if it is already months past my wish list date for TO.
 
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Last trade - 16.10pm 31/05/2024 (20 minute delay) ?
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