"President and CEO of Fremont Timothy B. Hart said: “Columbus’ flow rate has surprised us on the upside. It demonstrates that the field is much more productive than first anticipated. The cumulative flow rate is encouraging, and we will build on this once we flow test Marco Polo this week.
“Gas sale negotiations are advancing well and include large local manufacturers and now the local municipality. We are determined to secure the best sales terms for our gas, and this involves finalising long term sales contract terms and pricing, determining infrastructure costs, and assessing debt financing options.
“The Board understands the need to secure a binding gas sales offtake agreement soon and all effort is being made to achieve this. Corporate and operational expenses are being underpinned by a now steady stream of oil sales.”
On the right day the market will grab hold of this story and the sp could multibag from sub 1c in a day IMHO.
FPL Price at posting:
0.8¢ Sentiment: None Disclosure: Held
