Hmmm... I wouldn't get too carried away with this announcement;...

Hmmm... I wouldn't get too carried away with this announcement; they're basically going over old depleted ground and drawing up the remnants of the various gas plays. It's the equivalent of walking along the beach and sucking the farts out of dead seagulls.

At their hedging price of $6/Mcf (i.e. $6 per thousand cubic feet), then each of those wells is a paltry $1.56M or so, and the cost of drilling each of the wells would've sucked up most of the value of the things. To be worth more than a causal glance, they need reserves in the billions or trillions of cubic feet.

However, they do mention in their last activites report that they were seeking other energy investment opportunities as well.

:) Pedro