They reported Helium grades yesterday in their latest well of only 1.14%.. As apposed to 4-7% He they were expecting. Will have negative ramifications for the commercially of the prospect for sure. Let's hope BNL can report similar grades to the historic model dome field of 8% (only 5 miles away) which BTW is some of the highest grades in the world.. The SP action of the last few days was always going to happen as permit and spud date approaches .. my guess is 8-10c on announcement of permit then on discovery 0.15-0.20c .. Then who knows where she'll be in another 12-18months after a further 10-15 wells.. (a only $300k a pop) The risk reward equation is as good as it gets!
PS payback on a one well is 3 months and they produce for 10 years!!
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