imp good news from the top, page-13

Just to clarify something with Marcellus.

IMP actually already have leases in Marcellus but are continuing with their plans of drilling in the current locations. This from the "Top".

At the moment Marcellus is just a concept and there is no proof of gas there as yet. This too from the "Top".

No doubt once companies start drilling and if any find the abundance of gas that everyone is hoping for then the rush will be on. I believe IMP is strategically very well placed with leases already in place but I doubt they will be one of the first to spend money on exploring the region. A smart move IMO. Why move equipment over there that is already earning you a quid? I think only once the gas is proven and IMP move their rigs over to that region will the share price reflect on its involvement in Marcellus. But if it does ultimately happen then the current SP will hopefully be a thing of the past.

I believe a good little gamble at current prices for those who have patience.

But I also believe that the SP will hover under 2c until a firm commitment to Marcellus drilling or any new aquisitions are announced. On the latter, they are looking at a few small oil and gas companies. The rest of the news is already out in the market and factored into the price. ie. the BMX sale, the successful wells etc. The market needs big new news that will bring in the money for it to get excited in these times.