Yes there are some uncertainties always in the O&G game. Several recent presentations by ESG have said that initial reserves are in line with expectations (50-100 PJ) and that certification is expected September 07. I guess I said as late as next week because the Independent Certifiers may supply the information by the end of September but that's on the weekend so mwe may not see them announced until Tuesday (Monday being a holiday).
In any case whenever it happens it is only just the start. They expect to prove up 200PJ by the end of the year and 600PJ by early 2009 (and PEL 238 holds potentially 17 TCF in place. And they are currently doing drilling in the adjacent PEL 433 that has the potential for 3.7 TCF in place. Big upside here I think.
H
ESG Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
