Appalachians: Its my guess that funding has not been sourced....

Appalachians: Its my guess that funding has not been sourced. The banks bailout was supposed to increase liquidity, but so far hardly any cash has flowed through the system. We were led to believe that the completion of the amine plants and pipeline was imminent, so whats the delay? Can it also be money? Emerald need to get steady production for its reputation and cash flow. Perhaps things will improve when Obama's team takes over.

Greenbush: The drilling of Breckhause horizontal well should have begun, but yet again no news. It could have been delayed by the operator due to the price of oil v. drilling cost. The active rig count in the USA is well down. Oil companies are deffering projects. However Opec meets in December to consider deep cuts to oil production.

Stokes Bay: Even if they make some announcement of fluid analysis it wont make any difference this year. We are told that the only fluids recovered was mud. I dont believe the story that the reason a gas sample was not taken was because of safety. There must have been a sampling valve on the well head. Its common practice to take gas samples. Since the N2 job didnt work, it leaves the way open for Buru to insist on CT drilling. But when?
They could deffer the thing for ages, if they see fit. Also CT drilling will be costly for the JVs, but probably necessary.

So to sum it up,forget SB. Appalachians is the focus. Somehow the funding must be found. Obamas policy is to stop new concession drilling and concentrate on existing leases. This suits the P&J project. Funding difficulties should ease. We are going through an extra ordinarily difficult time. Gas price at the Henry Hub is down to around $6, but gas is always needed to keep the lights burning in the USA. Its far cleaner than oil and that suits Obama too.

So go to the AGM on Thursday - ask questions, get answers.
Its in the same place as usual. The Marque Hotel is the Emerald hotel renamed.