laurtec - you're one of my favourite posters and I really do get a lot of info from all your posts.
When potential commercial gas of 9m was announced @ H71, the market jumped on. Then the announcement of commercial gas quantities of 20.9m was announced, we had another jump. But when they ann that flow rates were 300-350k cfgpd, the rats abandoned the ship - looking like a wise move at this point - so seems to me that we don't have the investor backing that some people are making out.
Snapper A3 in their first sand (current one they are drilling I believe) is flowing 5-10 BOPD (not exactly exciting news) and what ever gas. By the time they start where all the oil is (3rd Marg Tex Sand), it'll be 2035. Some of us don't want to wait that long.
The 10% additonal at East Chalkley was good news AND unexpected - so you got me there.
How many delays has Beyt #1 had in the last year or two? Now we have to wait until Q2 2010. Who know's if this is going to happen.
Catapult - What's the story morning glory? oppies even issued. A company maker promise that never went through - I know you're going to say that it was delayed by the operator etc etc but it still got investors hopes up. When they ann that Catapult would be abandoned - rats jumped ship.
We aren't even cash flow positive - we made another loss last quarter...which is the norm for this company. All they do is CAP raise to fund projects. Been in operation since 2006 and we're still waiting for them to show some signs of being able to fund their own projects/prospects.
I'm just sick of waiting I guess and being apart of an open forum, I wanted to vent a little.
TEX Price at posting:
3.9¢ Sentiment: None Disclosure: Held
