Yes looks like a good start on soaking up the short term profit...

Yes looks like a good start on soaking up the short term profit takers. Still 1.7M in sell orders but it has fallen from 2.8 yesterday, so maybe within a few days.

Looks like Comet will be roadshowing the good news, with investor presentation which is definitely needed. There is a few valuable pieces of information in the presentation, apart from the resource upgrades.

For Muhalo
It states that increases in 2P reserves are expected this calendar, from either the increasing gas pressure at Mira or from the two wells scheduled this year.

This year budget works also include costs for pipeline applications. Presumably an APA royalty funded deal for the 60km connection.

Selects the southern route as prefered option because of the large reserves, with an initial schema of production plan for the north of the block and a "initial phase" target of 100+TJ per day. 100TJ is .1PJ per day around 292M per year at $8 per GJ (40% comet) but "sized for expansion" with "dedicated export pipeline".

Confirmation of expectation of low cost gas production with double coal length horizontal wells, limited processing, shallow, low water, high permeable, good gas quality.

Confirms FID for late this calendar, meaning pipeline and gas sale agreement would be expected mid year.

Plenty of good news for Galilee also.

Cheers