With the 2nd well flow tested at cedar point and third well already drilling we may have a 3rd cedar point announcement prior to the quarterly. Although I expect the previous quarterly production to disappoint if we have 3 x 400+ wells announced in the run up the the quarterly the SP may just ride through the historical numbers as though they never happened with the momentum generated. I'm less concerned about the quarterly now.
Arckaringa, Teresa EIS and Wyoming UCG are somewhere in the background not too far away from further developments in the current quarter I reckon. Then I expect DTEK and coal divestment sometime in the 4th Quarter. The DTEK deal looks like it will be both big and possibly fast tracked once government legislative hurdles are out of the way for euro integration. If Umiat has some success with well 23H and gulf oil production actually does hit the end of year targets..... :)
I think it would be positive for SP if that string of announcements comes through with positive results. Always a fair bit of risk of time slip and other unknowables but I like the look of the next 6 months from here.
LNC Price at posting:
$1.73 Sentiment: LT Buy Disclosure: Held
