I agree Granger, in that this is a nonsense announcement... if there are commercial hydrocarbons in the cib haz they would've at least appeared in the mud log...
But i also think there is a lot of down ramping going on... which I accept and it's good to hear what people think... but dont get me wrong reading the same stuff over and over again gets a bit boring...
My view is the miogyp is commercial... consider the flow rates they were receiving prior to shutting it in before commencement of drilling J2 (the only question i have is the distribution of this reservoir)... they have installed storage facilities and gas sales have commenced... they are generating revenue...
... keep in mind... Jumonville isn't their only source of revenue... for the quarter ended sep 30 2008 (J1 began flow testing on 25 sep) their net revenue (after royalty and costs) was estimated at about $960,000 a month - without Jumonville.
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I agree Granger, in that this is a nonsense announcement... if...
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