continuing up or profit taking i wonder, page-4

roseattorn

The bimonthly will update us on progress with the second multi-lateral .. perhaps some initial water flow (we know its been completed successfully from Gastar's briefing the other day). We will also see an update on Dewhurst 6 .. it should intersect similar coals to previous Dewhurst wells but its a step-out so sucess confirms the geological model and makes the 1,400 PJ estimate for the field more certain. And we may see that Coonarah 9 has spudded and is well progressed. The latter if sucessful in finding gaseous coals will add to reserves near-term as there are gas gathering infrastructure nearby in the Coonarah conventional field.

Other than that ... I'm hoping for water flow data for the first Bibbelwindi multi-lateral but that's only a possibility. Gas content for the coals encountered in the two wells drilled in the OIP leases could be out sometime soon .. but this is probably a bit early. A good results highgrades these leases.

The main speculation I think is about Gastar's equity and any further MOU's or an update on progress with either the APA pipeline or LNG in Newcastle ... outside chances at best and probably months away.

I reckon the sp rise has been due to increased coverage by brokers and increased confidence from the lateral results so far. But then again .. the buying has been much more "interested" than previously. Care to add your ideas on why the sp has been running??

H