thgey got the acreage cheap through good negotiating and a 25% free carry . With those reserve estimates , it looks like bargain of the century. Ramp over ... Back to work.
If some of you both to read , the company hopes to be in production by mid next year. This is exceptional by any standards and means 3D and drilling will occur before year end. They have big ideas and have stated they are looking at a number of options to fund the drills including a loan . The BOD are experienced and know what they are doing. I will be topping up tomorrow am to add to my holdings. If there is dilution it would be higher than todays price.
gut feeling we will surpass 3p on Tuesday and continue up over the week...
Shale oil in the UK is more difficult as fractures in the layers makes it much more difficult to produce economically in large quantities . Never mind the greens and the red tape...
I am in it for the long haul. The more I read about the shale gas in Utah the more potential I see here. This really is an exceptional opportunity . No spike here , its a serious rerate . What we need is a farm in partner with deep pockets as funding will be required. If however we hit 10p and self fund then dilution of shares here would have a lot smaller impact. Loads of experience on the BOD as well brings confidence. This will go bananas next week ...