Forget the CSM guys its a fad at the moment fo Aus because QLD is full of it. Wells are cheap and productions ok. Helpr was initially a CSM target but the recent flow rates at the latest Helper well were from Non CSM layer of sandstone conventional gas. CSM wells are usually cheaper to drill as they are shallower but they flow less. The CSM layers actually caused the probs at Helper because of the coal dust blockng up the production equipment.
CC is Conventional gas from Shale nd sandstone plays they flow rates are higher as they are more permiable.
If you want CSM go buy QGC of MPO conventional is still much much better. Its a different composition gas and more valuable.
Still need to to prove the stong flow rates untill the are proved MAE is still not nearly as valuable as they could be.
They are now cash flow positive for general expenses more drilling at CC could easily cost a few more mill hence the new debt facility.
Did everyone notice the stat location of the wells drilledat CC ? they need a few more to better define the boundary. We still have at least 3 months to wait prob more like 6 for a much better valuation.
MAE Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
