From the investor presentation there are 50 wells planned in the...

From the investor presentation there are 50 wells planned in the adjacent permits by QER,Comet ridge, Gallilee Energy, AGL, Blue energy and ORIGIN over the next 12months.

Any significant discovery by any of the above will have a positive impact on the value of exe.Add to that exe's own exploration wells.

The galilee basin is elephant country,agl has 20tcf gas in place at rodney ck,Blue energy have 15tcf gas in place at carolina one.

Exe is targeting csg and shale gas which may turn out to be even more significant...from the presentation the toolbuc always has gas when drilled.

I considered my position today and held for the simple reason that there are only 55mil tradable shares on issue at the moment and any significant success on an adjacent tenement by the likes of AGL,comet ridge etc would leave me locked out.(a few more would have been taken out of circulation today)

Im looking forward to the longreach acquisition,the new management coming on board and the drilling campaign.Reminds me a little of the early Arrow energy days.GL Holders.