geezer's on fire, page-4

Lets not get ahead of ourselves here.Whilst I like the numbers being bandied around I dont think they are realistic.
At 45c-60c the company would have a market cap of $90-$135m from the success of 1 well with 40%w/i(30% nri).

These sort of numbers at this early stage dont make scense to me.

Even if you tried to value the acreage on a dollar value it dosent work i.e 15000acres x $10000 an acre is $150m times 40% w/i equals $60m.

I think if this first well is successful and they drill 2 more next year(both successful)then 40-45c by end c/y 2011 would be about right.

I have been investing in shale plays from April 2009(adi,aut,azz,ssn,ete,pym)

All the best.