good news, page-22

thank you for your input sagh...it is appreciated. As I said some of what I have said is conjecture but maybe you have shed a little more light on the subject. For starters I notice you refer to drill rigs in the plural so perhaps the second rig is now up there in the district but stranded due to the rain from earlier in the week??....perhaps your post is also suggesting that drilling has temporarily stopped at Sancho as well ?? I would not be surprised because it was quite a down pour early in the week. Thank God it was short lived.

The rain in general over the last 18 months has been a far more sinister yet understated problem for these juniors than has anything Europe has had to dish up....and EXE is not the only company that has caused me heartbreak in regards to the rain. Early heavy onset of the wet season last November caused me grief with RXL in the NT...they are only now getting back to where they left off.

Companies like BPT and SXY are half of what they were at the beginning of the year because of the European crisis yet still they are 15 or 20 times the MC of EXE because they are a bit further ahead and at some stage they have had the chance to get on with the business of drilling without interruption from rain. Europe is a publicity hog. Rain does not get enough credit for the good work it has been doing in destroying our personal wealth.

Sagh I think it is a little early to put any numbers on EXEs resources. Results around Katherine and Bessies are encouraging, perhaps even a little bit exciting, but more work is yet to be done and that is what this year's appraisal drilling is about. I think if Rocky Creek 1 and 2, Sancho and Winton can return similar numbers to Bessies then we may have an elephant on our hands....if numbers are similar to Bessies then we have another Bakken shale. But unlike the USA I don't think a gas glut is going to be an immediate problem for EXE. From everything I am reading Santos is a little concerned that they may not be able to access enough gas for their LNG plant in Gladstone and this problem may even provide opportunities for gas field as far flung as the cooper basin in South Australia....so EXE is relatively well positioned in that regard.

http://www.adelaidenow.com.au/business/gas-oil-prices-to-fire-up-cooper-revival/story-e6frede3-1226421800906