Speaking conservatively as that seems to be what you are after the gas flows (from two dual lateral wells) are not HUGE but its early days (only 6 weeks). Have a look on ESG's website under Investors at the 2 broker updates. No mention there of disappointment. Casey says there is a "strong and steadily increasing rate of gas production ............. that will continue to climb". I would be expecting 1m scfd or more later on.
Speaking enthusiastically .... look at what else was said ... confirms they are on track to meet upgrade targets, and move quickly to commercialisation and full scale development. And ... well spacing will be economic .. and ... Look at the fact that they are doing two more lateral pilots already with a total of 6 planned this year. If it was a failure would they be saying or doing all this?:
I expect a strong run on ESG today and coming days once this info sinks in. Makes a takeover a possibility but I'm not counting on that!
H
ESG Price at posting:
81.0¢ Sentiment: LT Buy Disclosure: Held
