This update is a step in the right direction, but to me an...

This update is a step in the right direction, but to me an intial $5M revenue stream is most likely a bit of overreach. To get that we would need to be getting the 25 tonnes per day at close to $600 with no down time. Intital processing plant can produce that tonnage, but will the two wells deliver enough raw gas to run the plant at near full caoacitybto achieve that outcome? We need $1.3M for the plant plus another $400K for the next well to make the two wells to supply raw gas to the processing plant.

I would rather base figures on say 20 tonnes per day at $450 346 days to allow for down time.

Costs $1.7M with revenues of $3.1M per year. Hope for more but given track record of management over promising and under delivering on Revenue timelines I can't see the market calculating the revenue higher than this.

No revenues till H1 confirmed there is now little chance of avoiding a CR. IMO Brokers will keep knocking and capping the SP to ensure a bigger discount on the CR with the brakes being released just prior to production so they can sell into that news.

Don't get me wrong long term I believe we will be well rewarded, but in the short term I see us stuck where we are until revenues begin to flow in.