MEL 0.00% 0.5¢ metgasco ltd

I suspect that the phrase "Metgasco is encouraged by the gas...

  1. 534 Posts.
    I suspect that the phrase "Metgasco is encouraged by the gas flows to date given that only approximately half the planned quantity of proppant was able to be placed" means the gas flow wasn't that great but the excuse was the technical difficulty placing the proppant. That would be normal corporate-speak. Nevertheless, consider this one point:

    If MEL had just the gas from one free-flowing zone in one exploratory well in one field, 3 million scf/day, that is 1PJ of gas per year, worth around $4 million per year at current prices. That's without any tweaking, one hole in their vast acreage just to see what's down there, never mind the other fields or the CSG!
 
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