Yes, welcome back Gerkin and good evening shane75.I must warn...

Yes, welcome back Gerkin and good evening shane75.

I must warn you to wear your protective goggles for when perforates an over pressured well in a 200BCF closure one is liable to be blinded by the share price vertical acceleration.

Lets lists the basics one more time.

Curent share price: $0.49 cents
Current Analyst Valuation: $0.73
Current Well Name: Jean Freeborn 1.
Status Of Well: Waiting on Perforation (Production Test)
Size of Field: 200BCF (Very Very Big)
Price of Gas: Say $US7.50 per 1,000 cft
Whats the field worth to AZZ if it comes in at full size: $1.50 per share.
What sort of flow rate from one well: 5-8Million cft a day would not surprise (may need a frac) which is $US13M to $21M p.a in revenue. A field like this will support 5+ wells just like the first. Could produce $US100M in revenue a year.

What's the chances?

Well we had?

Good gas shows while the well was being drilled
High pressures requiring heavy mud to keep a lid on well.
High gas quantities (33%) in mud.
Pretty good sand thickness (net 100 metres)
Confirmation sands are saturated with gas (wireline test)
Sands good to very good quality (drilling samples and wireline) although also unconsolidation evident (a nuisence but not a show stopper).

I'd say we're on a winner here