note to sellers - thank you!, page-32

gday gassed

I have to agree with sakestler08 on this one, i dont think there is any inside running here based on todays trading (up 26%)when you take into account the $$ value of trades, volume and the tight register ( unless ofcourse the buyer was one of the dudes working on A2)

Just as we saw the sp drop dramatically on small volume it doesnt take much to push it higher when the register is so tight

What sakestler says about the revenue implications of a successful workover is 100% correct, each aditional 10mmcf/d = approx $50k/d revenue. The potential additional revenue from 2x workovers is very significant and as i have said b4 i believe these workovers are low risk, its not like they are exploration holes, they have already tested well for gas flows they just need to be opened up and hooked in.

If they come in as expected then i reckon 7-8c will look like a bargain if you believe the renewal will go ahead. If it does ( and i believe it will) then it opens up further revenue upside, exploration potential for shallow oil and gas and no doubt the possibility of acquisitions in the area.