Nice announcement stating some positives. Had the desired effect.
It may run for a while but I was happy to exit on the bounce. Drilling and Cuadrilla were no surprise to me. Often what is not said is interesting too, ie:
- Positive news on exiting the Monument prospect, which they hoped to do by 30 June. - Positive news on new work to stabilise the cash outflow from the non-drilling operations.
33% of Cuadrilla could be good but will take a while to know. For those who want to dig, the well name is Preese Hall 1.
AJL Price at posting:
$2.20 Sentiment: None Disclosure: Not Held
