implications for eka re sugarloaf

""implications for eka re sugarloaf""

see below taken from their website re:lease rights to targets.

""Note that Eureka does not hold lease rights to targets shallower than the Sligo Formation over the majority of the prospect area but does hold rights to all depths for the Sugarloaf 1 well.""

basically it means EKA will probably have one producing well on the Sugarloaf Prospect (thats if shallow targets come up trumps).

where as the other JVP's may drill & have 3-4wells producing wells..which it may take 3-4wells to establish some sort of reserves.

lets say for example they establish reserves of 200bcf after drilling 4wells, surely you can't say EKA is entitled too the full monty

so where does this put EKA in terms of resource when it could have one producing well..????

me thinks they better pull their finger out and look for other opportunities.

regards