Yes next week could be a good one. The bimonthly drilling report is due (although there have been some updates since the last one on 16 March I still expect one Monday). I am assuming that the two laterals will be on-pump by then so we will have a good idea of water rates .. indicative of gas rates. So that might get the market excited again.
And any day we could see new developments in terms of a pipeline agreement, gas sales or MOU's, or transactions within the sector (like BPT's asset sale or Anglo's) or even takeover moves on a junior or two or even a senior like Santos. There certainly is a buzz still in the CSG sector!
Lindo you seem very confident as I am of substantial reserves upgrades during the year.. and your track record is good. I would like to share your certainty about gas sales agreements .. because that's the critical element (as well as flow rates) that will allow reserves upgrades beyond the 1,300 PJ target. If 2C can become 2P we are looking at around 2,000 PJ to ESG ... now that will move the share price. And I would like to think that this is possible within 3-6 months from production data on Bibbelwindi and Dewhurst rather than by year end but that's just my hope.
H
ESG Price at posting:
81.5¢ Sentiment: LT Buy Disclosure: Held
