Hi Holders - don't you get sick of the massive "spin" Anns...

Hi Holders - don't you get sick of the massive "spin" Anns coming out of this company - they border on blatant lies.

"PB#1 produced gas at rates up to 3.3 Million cubic feet per day. PB#2 produced gas at rates up to 1.6 Million cubic feet per day, confirming gas presence in the Ismay formation. Interestingly, this was 400 feet lower in the Golden Eagle structure than PB#1"

Yeh, good one Ricky boy - please take serious attention to the spin words of "rates up to" which means diddly squat - what were the sustainable flow rates Ricky - closer to 1mmcfpd??? - not commercially viable at all - absolute rubbish statement.

But wait there's more -
He said future wells on the field will specifically target Ismay formation production, as such they will be shallower, "considerably cheaper to drill and complete. Recompletions of the current wells will also be investigated."

Cheaper to drill?? What the?? Is he suggesting discount drilling rates?? Yes he can drill to shallower Ismay formation (not exactly shallow in terms of depth - still expensive to drill) but if the gas flows aren't commercially viable - why waste the $$$?? But what about the last bit - recompletions of the current wells will also be investigated - what's to investigate - there's not enough sustainable gas in PB1, and PB2 is a very expensive dud. Absolute spin!!!

Conclusion - only thing that should be investigated is the management and those making these absolute spin doctor Anns. No doubting there's gas in Paradox - but the sustainable flow rates are not anywhere near to being commercially viable - until the commercial price of gas increases proportionally to sustainable flow rates from Paradox, it is a waste of money drilling further. I have no doubt PB3 will be drilled - same daily spin Anns during drilling, huge flucs in SP - the boys club make $$$, another opportunity to bleed some more oppies out of the market and recoup a cash flow to survive another day...... And seriously, which US financial institutions in there right mind would give them any dosh - get real Ricky - that is unless you and Richard are putting up security up for these so called loans - yeh, we'd like to see that!!!!