http://galilee-energy.com.au/news The full Paterson report is...

http://galilee-energy.com.au/news

The full Paterson report is worth a read. It states that $3 unlikely given current price of oil.

Also states the testing underway will probably take 6+ months. It also states previous trials didn't get the flow rate required, in essence they failed. Reserves will need to be proved up first too. Something they've failed to do so far unfortunately. Need to build a pipeline though, not cheap and takes time.

The Board is having an AGM to reset their placement limits, so expect a raise too.

Also on Minervini he buys breakouts - so after consolidations not during bursts. He wouldn't be buying tomorrow.

This is not an overnight story.

I'll keep watching. Could be interesting LT but don't think this will go parabolic for long. Be careful amigos.