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- 22 January 2009
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-They intersected two different coal formations which potentially can be developed. Both flowed gas to the surface.
175 mcf/day is well below PES flow rates in Cameron wells of 750 and 1000 mcf/day. Average in Surat-Bowen basin is 600 mcf/day, Sydney basin is 500 mcf/day according to
http://85.185.226.180/ahwaz/files/downloads/article/spe2007/SPE-106850-MS.pdf
I sold out based on this info.
It sounds like you might be able to answer my question about relating post-drilling gas discharge and production volumes. I take it you feel that this well will not meet the production volumes similar to those in the article?
According to Metgasco, rates are supposed to improve with de-watering but I've yet to hear of an improvement on 200 mcf/day from Corella-11 and its been on production for 18 months. Supposedly optimum rates can take 1-2 years.
Commerical is 300 mcf/day
http://www.aer.com.au/announcements/2008/1031/00898156.pdf
I'm naturally inclined towards paranoiaand I can find no other explanation for this behaviour except for the market behaving completely irrationally. Occam's razor and all that.....
something is afoot that us ordinary retail investors are not aware of.
At the moment looks pretty ordinary, but has bounced off lows. Some people want to buy it.Hey Kenna is that trend line/formation still intact after todays dump?
Wish I could fast forrward 6months to see which CSG companies are still around and what their respective share prices are
At the moment looks pretty ordinary, but has bounced off lows. Some people want to buy it.
Will be intersting to see how it finishes.
Really, couldn't expect anything else in the environment. The fear scale is off the planet now and punters are bailing no matter what. Could be another capitulation in the works. Will just make this cheaper in the LONG run imo. But for those needing to conserve capital, being on a fence might look pretty attractive.
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