The only thing new is that we hadn't met you until now - welcome... but most of us bonafide shareholders knew of our pending positions and possible paths unders various circumstances, already.
Nothing new really, yet positive it is. I would hardly say its negative without a real reason - and i dont have one, so all remains on track, as far as i am concerned, for us to make money from our investment with the typical patience required of speculative plays and we should not take any notice of imaginary deadlines set or lines drawn in the sand by our infamous non-shareholders...
Here, I have interpretted that the Directors have basically said that we are going to begin producing and that it wont be far off - so we are obviously ready to do so. That will be an exciting round of announcemnts considering we are back to square one on this front, with little to no production having occurred - yet with much gas exhibited via atmospheric flares. We might be back on square one, but we do not have half the issues we had in our dressed rehearsal a year ago - the rehearsal in which we hurried things, under shareholder pressure i expect, and caused hydrate issues, needed to apply maintainence and continual monitoring and regulation of gas pressures at well heads. There was a story from the old operators from around 50yrs back having reported enourmous p[ressure and i also heard on the grapevine that well heads exploded as a result back then.
So from here, if the wells are clear and fully commissioned/cleaned and they are ready to go (i dont know what condition/level of operability each of the wells have mind you) then we will be looking at some exciting market sensitive announcements.... as the real stage is lit up over the next few months for MAE when hopefully flow rates and production data will be the star performers. Thats my expectation for what will be happening when we are going at full speed ahead without issues. If this is the time to begin bringing wells online again, then so be it - GS has had a say, the board has had a say, and now we have heard via an announcemnt that they are confident in acheiving production. I would expect some of those possible figures of produciton and flows to be announced to market as an apetiser to obtain funding from a SPP. This may therefore be the clearest atmosphere in which to study MAEs potential - over the next few COMING annoucemnts that todays announcemnt heralded.
Cheers and good luck to holders,
Lautrec
Cheers,
Lautrec
MAE Price at posting:
22.0¢ Sentiment: None Disclosure: Held
