Originally posted by Deus_EX_102
Things are looking good at glenaras. The drainage area is
significantly larger than anticipated, hence the need for more wells to accelarate water-drawdown. My feeling is our reserves will be much larger than 500PJ
Originally posted by Deus_EX_102
Things are looking good at glenaras. The drainage area is
significantly larger than anticipated, hence the need for more wells to accelarate water-drawdown. My feeling is our reserves will be much larger than 500PJ
No surprises. They announced the plan to get the drill in the previous announcement. The bots have been quietly accumulating, while the impatient punters have been quietly feeding them. Jemena seem fair dinkum on their side, which shows confidence in the whole venture. We've got plenty of cash to keep drilling into more coal & pumping water. However, it would be nice to hear previous industry numbers on the cost ratios of water pumping to profits gained from resulting gas. Presumably, they pump water out say 20 hectares of coal to keep gas flowing out of XX hectares of drier coal. Rinse & repeat. Go to bank. Pay divs. Bargain today,
Cheers, Japes
