gas can smell lovely when it's flowing, page-15

Hi eddie

thanks for the reply. MOS is selling gas to QLd grid and has set up a pipeline to connect it to system. The gas is onshore, not offshore.


Sorry not meaning to ramp MOS here, but as I am not an oiler or gas expert, I want to know how ECU and MOS compare in terms of what is being portayed. My understanding that ECU could be biggest QLD gas project according to recent posts here. That is interesting since mOS claim same thing. I appreciate any comments, as my investment in MOS has neither gone up or down, so ECu may represent better play at present.

Thanks
Microman

Here is some text from their website, www.mosaicoil.com.

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Mosaic owns a 50% share of the largest LPG Plant in Qld, and the company fully owns a large gas and oil treatment plant together with over 300 kms of gas pipelines.
The Churchie gas field –a Mosaic operated discovery (Mosaic 49% and Santos 51%) is shaping up as the largest gas discovery ever made in southeast Queensland.
It was made possible by Mosaic’s introduction of pure nitrogen drilling techniques into Australia. So far the possible reserves are 120 Billion cubic feet but the field has not been fully appraised.
Mosaic’s revenue base is currently around $10 million (up from $2 million in 1999). 
Mosaic secured a large acreage position (over 1,500 sq kms) before it became apparent that large gas resources had been overlooked in this region. This underpins our potential for further growth. 
Mosaic’s holds sufficient cash reserves (and has no debt) to carefully map out a drilling program for 2003.