I think most of your points are actually answered in the quarterly:
1) Last update was in the quarterly on 31/1 - not 2 months ago. would you prefer they release an announcement saying there is no change in status.
2) The quarterly (i.e. as of 31/1) states "Austin’s engineers are currently flaring the gas to bleed off the high gas pressures". Safe to say they are still flaring.
3) The quarterly (i.e. as of 31/1) states "The Company will continue to bleed down the gas until it is safe to allow for oil flow testing operations to commence." I interpret bleed down as the pressure is coming down. Otherwise they would/should have said bleed.
4) If they were gas only wells they would not have stated "The Company will continue to bleed down the gas until it is safe to allow for oil flow testing operations to commence."
5) They describe hitting "significant pockets of gas" and "high pressures" and "high volumes" of gas. These descriptions along with the fact the pressure 2 months on is still too strong to allow for flow testing give an indication as to quantity. Perhaps there is no quantitative amount as they were simply flaring the gas?
AKK Price at posting:
0.6¢ Sentiment: None Disclosure: Held
