To give an oil equilevant most divide the number by 6 however, I...

To give an oil equilevant most divide the number by 6 however, I have it on good authority that if you use 10 you will be closer to the mark, which is how a lot of people measure gas.

I am not trying to avoid the answer but it really depends on the announcement . For example if it says they have gas at 3TCF and it is commercial then one could expect the S/P getting to $1-$1.40. Conversley if they say they have found gas and are not able to say it is commercial then it could be around 60-80 cents based on todays closing.

But don't rely on my assumptions, as the market makes the price based on buyer and sellers who dictate the price.

The other thing is if as has happened recently is if there is a seller of 20 million shares they take all the good will of a discovery out but on a discovery this is unlikley to occur.

T-Shirt is the person better qualifoed to answer this.