In the Strachan report they put an unrisked valuation of $0.27 on EP-413 alone, so you could well get your money back. Take a look at the report here....
Love the quote that "Arrowsmith-1 flowed at up to 4 mmcuft per day from a vertical, unstimulated well bore in the Carynginia Shale". Let see how she goes on a fracked horizontal.
Parmelia gas line kissing the tenement bounday to get it to the domestic market which has a forecast supply shortfall and is paying $7.5-9.0 a gigajoule. Apache's Devils creek gas plant which came online a month ago recently is believed to be putting in at $10.40 per Gj.
Early success would mean a chance to tie up pipeline and GSA contracts before the pipeline runs out of capacity and/or the market gets flooded with a glut of cheap gas and the price gets depressed as it has in the US due all the shale players coming online.
Now significantly de-risked for mine. May even be time left for the oppie's to get in the money as well which would great for the company also. What's not to like?
Best of luck to all.
NWE Price at posting:
4.4¢ Sentiment: Buy Disclosure: Held
