>>Long term though I would like seeing 5 wells in production next year at some stage with revenue $200k<<
Think you meant 200 Mil pa... lets reach the first target of 1 more Well and the 100Mil pa target for 2012. This will make all investors happy here- we are a third of the way there...
1) Well 1- Held back 36Mil. Upgrade to 55-60Mil once Gas Plant complete.
2) Gas Plant complete year end 2011- to let rip on the flow rate of Well 1.
3) Well 2 success stated as 90%- the only issue being 'How BIG are the reserves'?
4) Well 3 stated as higher risk than the lower risk play of Well 2.
ST Moves- confirm reserves Well 2, confirm revenue Well 1 can perform greater than 36Mil pa, Gas Plant build time released....Insto touts their investment as they 15% down in less than 1 month right now.
HOG Price at posting:
33.5¢ Sentiment: ST Buy Disclosure: Held
