A very boring turn of events. Would have been great fun with a...

A very boring turn of events. Would have been great fun with a big flow of gas and we could all be saying how clever we are and lighting cigars with the odd $100 note etc.

Very disappointed that there appears to be no gas flow at all, I thought the risk was thatthe flow would be small not none. After something like this it makes one worry about the competency of the management and how much of the talk was hype to raise money rather than true belief in the value of the prospect. Managements build a reputation base on the actual outcomes of their endeavours. But dusters are part of the O and G game.

We now know the value of the Ellenburger -- Zilch. Don't need much of a computer model to work that out.

Where to now.

More cherries to pick before christmas. Maybe the CS and shale will be tested by Christmas, will admit it doesn't seem so exciting now, after the 1.6Tcf of the Ellenburger dissappeared yesterday.

Mecury Stetson should have a test in November.

Personally I like the South African leases more as CEL's leases seem to be surounded by big players, and at the centre of an area of interest. Where as TC and MS are way out on the fringe of popular areas.

I suspect the SP will bottom out and recover abit. Something positive is needed, the best out of the blue news would be a go ahead in SA. Otherwise good gas flows at MS or CS.

People are baling out and other people are buying their shares, life goes on.

Saltbus.

Ps. Quartley due soon. Back to waiting.