re: Ann: New seams encountered by Mount Saint...
The announcement looked strong as it mentioned gassy coals although desorption tests are required to determine actual gas content. The extra seams should add to reserves and that is a key positive.
Note that drill stem tests are being carried out over the coal seams and if WCL can locate seams with good permeability that would be a big plus.
The day to day share price is not critical as the main game is to prove up enough gas to be attractive to BG as part of their LNG plant reserves.
WCL Price at posting:
37.3¢ Sentiment: Hold Disclosure: Held
