re: Ann: Drilling Update Shale Oil Project Al...
Its off to the labs now for testing. The main issue will be quality of shales for fraccing...if too brittle we move on. If not they will drill upto 3 more wells.
marathon will be announced towards the end of this month .
I then expect the USA ann and another would not surprise me in a different area.They are very active at the moment.
In June /July with any luck will will have details of the newpipeline that Apache and others have built for Marathon.Once that is finalized then proper condensate and gas flow rates will be achieved.
The AGM is 23 May so a lot of details will be filled in next month at this.
If you are in stock try not to be impatient. this process will take the rest of the year but we will be rewarded.
finally remember psa has 34c cash (17c) and saleable assets.Marathon esp is very valuable as it is a condensate play not just gas and they receive upto $5 rather than the $2 for NG.Once the pipeline finished that will be good cashflow again.
PSA Price at posting:
21.0¢ Sentiment: Buy Disclosure: Held
