cheers mate

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virtuozi

530 Posts.

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04/06/19

15:28

Post #: 38902294
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Originally posted by chuk: ↑

Thanks for posting. I just spoke to Michael who is overseas (sounded like he was on holidays) but was good enough to talk at length. I'm not going to try and quote him word for word in case I misunderstood anything but I did get the impression that he thought more work will need to be done to determine what rates of gas flow would be achievable on a sustained basis. He did seem to be suggesting that the heat energy and gas constitution was as reported by LCK and that there were no environmental issues at all but I got the impression that he thought flow rates might need to be improved - he mentioned that LCK might simply need to redesign the wells to improve gas flow rates. Perhaps that will be worked on with the partners that potentially buy in. They would no doubt have access to all the data and will have their own opinion on commercial viability risks.
Importantly, Michael said that there was NO REASON at all why the department would not allow further work to be done by LCK or potential partners as a previous post seemed to be hinting at (and so I specifically asked that question).
Overall I get the impression that are many boxes ticked, including heat energy and the quality of the gas constitution but more work needs to be done to determine the commercial viability. It seems there is plenty of interest so I'm holding and I might buy more depending on how this continues to trade.
Again, thanks for your post Virtuozi.

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cheers mate

LCK Price at posting: 27.0¢ Sentiment: Sell Disclosure: Not Held
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cheers mate

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cheers mate

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