large sell at 61.5, page-11

Yes H the momentum was killed yesterday by the seller at 61.5. In my opinion further information as the lateral drilling progresses and the next bimonthly drilling report will enable the SP to hurdle this small road block. ESG management have never appeared more confident and importantly Gastar appear to be in a similar frame of mind. Even though the nearly $4.7 million Gastar paid to get part of the Wilga Park Power station (with another approx $400,000 due when output reaches 7MW) is "small bikkies", why in a time like this would you invest any amount unless it was considered to be good investment. I like their confidence that there appears to be so much gas from the pilot wells they can use this excess at Wilga for electricity generation, that's gas that would have vented into the atmosphere. This plus the building of the pipeline from Bibblewindi is a strong confidence boost from both companies who obviously believe there is plenty of gas available and its good quality. At the pub we are buying and I'm not talking about the next round of beer!!