CIG's announcement today was very positive,which adds to the value of MHL.Noted in CIG's ann today that contracts to sell the oil are still in place just like they were when previous explorers where there.The reason that they had ceased was the local flowline infrastructure was damaged in a land slide which caused the field to cease production.
A review of the production history indicates that there is between 1 and 5Bcf remaining reserves.CIG is drilling its 2nd out of 11 wells at the moment which all see to be positive so far.This can be all viewed on CIG's website.I suggest any holder of MHL to read as i will show just how much potential MHL does have.
If CIG can continue with existing local contracts i dont see how MHL can't.
anyway guys have a read of the announcement.
MHL Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
