After attending the euroz broker meeting at Nedlands yesterday , I came away with three statements directly from D. Wrenchs 20min preso to the prospective shareholders.
1) Water is not a issue !
2) We are achieving sustained heavy gas flows to surface , and the saturation of the coals are double what we originally thought . 60 - 80% wow !
3) ( And this would be my favourite ) We have had so much gas flow that we had to shut the well down temporarily as it activated the gas monitor sensors / safety equip in the surrounding vicinity. ( sorry i forgot which well he was referring too).
Glad I got the op today to grab 700 000 of these babies @ 12.5c , as imho I believe they will be hovering close to $1 this time next year if no heavy dilution is required for strikes next drilling phase.
cheers,
max99
Facts from D . Wrench
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