ADX 3.00% 9.7¢ adx energy ltd

There is a direct parallel to where we are at with MAY. We will...

  1. 3,626 Posts.
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    There is a direct parallel to where we are at with MAY. We will have the logs etc here in about 1 week. Unfortunately the flow test cant be done until Oct for permitting reasons, it's adjacent to a national park and they dont want a fire in Summer.
    My assessment is that they have confirmed accurately what they targeted and it matches what was discovered in a well drilled in the 80's which found wet gas at a flow of 4mmcfpd. This well was about 12km away from what I can see but may be as close as 4. Either way the areal extent is big. I think this well is analogous and the 800bcf is likely to be confirmed. So the leverage is huge c/- Alameda and Austria is a better risk than Cuba. I have sold a couple of m MAY and put it here. ASP18.6PS. The 80's well was never commercial as gas wasworthless then. I dont know enough about gas to know if 4mcf is good or not, I am used to the PB 20 PD. But hey the price is 5x Henry Hub.
 
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