holymagiman one and a half shares

This is Mr Lincoln Augustus, first second cousin of Holymagiman

I am taking some time off from fishing with Holymagiman to post this message. It is dark, it is choppy and it is warm, but those fish are just not biting. But it has been a very pleasant evening with those Jamaica Number Ones and the Red Stripe to keep us going.

And it has given me time to think and ponder. And this little Metgasco puzzles me no end.

Now, this company has 284 PJ of 2P reserves and 1460 PJ of 3P reserves, proven from just 5% of their tenaments.

And they have some good management in charge.

And their fields are quite close to your little village of Brisbane in Queensland. It is my impression that even villagers will need gas to light their little fires to toast their marshmallows once in a while. Toasted marshmallows have a lot to recommend them, that is for sure, and I am sure that the little corner store in that Brisbane place will have marshmallows of some sort. Try making s'more with those marshmallows as they taste even better than ordinary toasted marshmallows. but then again, that is just my opinion, and so, to each his own.

But to go further, Metgasco has 25% of the 2P reserves of Arrow and 12% of the 2P reserves of Queensland Gas.

It has 66% of the 3P reserves of Arrow and 25% of the 3P reserves of Queensland Gas.

It is a coal seam methane play (as well as a conventional gas play with the discovery of the Kingfisher Field in September 2008).

All these are presented in the company's investor presentation on 11th December 2008, and I would suggest that those who wish to be informed more should read it.

So it surprises me to realize that Metgasco is one of the most undervalued of the coal bed methane stocks in the market place, but then again, the world is full of surprises and that is what makes it interesting.

Holymagiman has bought 1.5 shares in this company to add to his small portfolio as a longer term holding, and I hope he does well enough with this purchase to maintain his generosity with the Jamaica Number Ones to the rest of the family.

May the good Lord shower you with his blessings and keep you all well
MLA