where is the rig?, page-10

Hi Phantom71, a small rig delay is the norm in this industry, nothing to worry about.The sp looks as though it is in for a steady rise now as the process of proving up reserves gets under way.I am pretty sure that the first well location will flow very successfully as the first Lydia well flowed at the time it was drilled.So it is likely that we are looking at a sp over 45 cents over the next month. These first wells are proving up reserves for the Stanwell farmin and gas purchase. After that I think they will prove up additional reserves for the whole permit and when this happens they will either sell more gas or be taken over. Either way the sp should move on to somewhere in the 60 to 80 range.Somewhere along the way they will need to raise funds to pay for their share of drilling and testing.
I am planning to get back in any day now. Just need to move some loot out of other shares.
Occam