my concern

In June 2007, we received a Reserve Report that stated that clear creek has around 130bcf of 1p (ie roughly the same as the latest Reserve Report)

For the next year and a half the company tried as hard as it could, whilst spending countless millions in capital and debt, to make money from consistent flows. It couldn't. Sure, the reserve report said the gas was in the ground and gas prices were high but we couldn't get the gas out.

Now we have another reserve report. People are drawing up figures, multiplying the gas in the report by the price, having a great old time. But nobody seems to want to address the elephant in the room. The last report said we had lots of gas too, but we couldn't get it out economically. Why will the next company be able to with this report? Sure the report says we have 1P but so did the last one and where is the success from that?

The only answer i hear from the company is that a bigger player can come in a spend more money and thus get gas flowing. This is a massive assumption, because we spent heaps and couldn't and how would this extra spending affect the economic viability of the project?

Specifically addressed responses please.