TGN
Just a point on the rate of progress and your assertion that this will be the rate of progress for all future development. The facts are that excluding delays from the planning process (which should become irrelevant once U.K. Shale is Nationally Significant), the early stages of developing shale resources take a lot longer than production drilling phase as the current phase is all about learning. Which way the rock strata runs, what is the make up of the rock at each level, samples, samples and more samples. Also other things like which bit to use, which mud, how much weight on the drill string, how fast to drill. And once they start fracking there will be a pile of other variables that need to be tested and determined. Learn, adjust, re-test. That is how this game works.
Yes it has been slow up to now but as Kesbones says sometimes the glass is half full. Cuadrilla has just finished drilling the 2nd lateral and will be looking to frack soon in what is THE largest onshore gas resource in ALL of Europe! And little old AJL owns half of it.
As long as we get to frack and test flow rates and get results in next 12 months all the delays to date will be irrelevant. The risk reward trade off is now as good as you will ever see IMO.
Cheers MB
AJL Price at posting:
37.0¢ Sentiment: Buy Disclosure: Held
