Drillsearch Energy (Sydney based) DLS should see some market recognition over the next few days and weeks based on their announcement this morning of a substantial upgrade to gas reserves at the Western Cooper Basin. The best 3 exploration prospects (an independant review confirms 21 prospects) have the potential to double the size of the western cooper project. Contingent resource(gross)revenue potential of $166 - $600 million. Definately worth a read to understand what this means to a co. trading at just over 5cents. The share price has based out over the last month, but should start to be rerated once the announcement takes hold. The volume is up and the stochastic has turned up. All good buying signals IMO. A good one to hold and ride up over the short term.
DYOR
DLS Price at posting:
5.1¢ Sentiment: ST Buy Disclosure: Held
