I agree pcaruso - I seem to find myself thinking that every time I read one of your posts. There have been plenty of overly optimistic calls on this forum that have not eventuated - however, deep down we all hope they do!
One thing I am delighted in is that we received an honest factual update from the company. The announcement answered many of the questions I had and is the way their reporting should have always been.
I think the share price will really move when stable production is announced. I'm hoping that the announcement will be stable production of around 10mmcfpd and increasing from only the first 3 RR wells. At the same time, or soon after I hope they announce the remaining RR wells and ASD wells online. By the time these wells reach stable production, hopefully they quantify an increased rate for the first 3 wells. By this time I suspect the share price will be well over $1.50
My thoughts on timeframes is that they should work over the entire summer to increase production and drill more wells (ensuring enough time to complete and test them before the cold kicks in!!!). Then do the reserves estimate when the snow hits and then put up the for sale sign. I think they should make the most of the good weather while it's around to add as much value as possible before commissioning the reserves report and announcing retirement.
MAE Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
