inp

Geez, it's still rising (althogh some people just dropped 400K to sell at 33).

Either the gas field is bigger than I think it is, or there will be some unhappy investors soon ...

This is what the SMH had to say


Innamincka heads day of star turns

By Barry FitzGerald
December 30, 2003

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A flurry of promising exploration results at home and abroad put some pep into the share price performance of junior oil and gas companies yesterday.

Recent float Innamincka Petroleum was the star performer, shooting 19¢ higher to 33¢ in response to a gas discovery at its Yarrow 1 well, about 100 kilometres north-east of Santos's Moomba oil and gas processing hub in South Australia's Cooper Basin.

Two tests of the well flowed gas at a daily rate of up to 3.87 million cubic feet, a bit light given the thickness of the interval tested. The market was nevertheless excited by the result, given pre-drill estimates that Yarrow could contain 70 billion cubic feet of gas.

The well is close to existing infrastructure and was taken to provide further proof that the Cooper Basin would be a happy hunting ground for the swag of junior explorers that moved in after Santos was required to relinquish large tracts of exploration ground.