i did not see anything new here.the same old same old. there is...

i did not see anything new here.the same old same old. there is renewed caution, there is a comparison with a totally unrelated field in the USA, there's an implication that all shale gas reserves behave the same, but this is not the case. no two gas fields are the same, nor do they perform the same. blaming insufficient data is the easy approach.

what I want to hear is the GSPC is on board with the strategy. under Indian requirements, the annual budget needs to be approved before the end of March, so it seems we might be seeing the next well approved in March 2017, drilled 6 months later. that is 15 months from now. the results will be too late to include in the required Field Development Plan for the lease extension.

so many flaws in the logic.

what we need to hear is that they not only have a strategy agreement with GSPC, but also that DGH and Federal Government will allow the work to commence in 2016. I want to know where the well will be and a geological explanation as to the bottom hole target and expectations and definitions of success. this data is what an investor will want to hear.

downgrading the asset from reserves to contingent reserves is a very significant downgrade. it is an admission that the reserves are not recognised as deliverable.

i waited nearly 3 months to get any news at all, so hopefully the new team can deliver as doug7 has expressed.

the release of this information is a huge improvement, keep it up.