Hi kip, I'm hopeful of this too (I'm sure all investors are) as...

Hi kip, I'm hopeful of this too (I'm sure all investors are) as any further CR/dilution will all but destroy our long term investment into the company.  

I don't think we should be setting our hopes too high now re. share price re-rating on booking of maiden reserves, yesterdays announcement came with a strong taste of deja vu and in my humble opinion has now ensured that we are faced with a situation much the same as when we were awaiting flow rates. The market was expecting 3+mmscfd and although we knew anything in the 1.5-2mmscfd range would give us a commercial outcome, we were sold off on some pretty decent results as there was a level of expectation built coupled with a lack of trust/credibility. Yesterdays announcement has destroyed what little trust/credibility we'd managed to claw back. The market is expecting some decent figures in terms of initial reserves so they need to absolutely hit this one out of the park and report nothing short of stella results.....but here's the problem, i feel the market will again misinterpret the results as being "underwhelming" as i think expectations have been built much higher than reality will allow for. Although strong initial figures give us a solid foundation to build from, the way in which investors have had the proverbial rug pulled out from underneath them will unfortunately hinder any significant increase in share price. 20c will not happen and the 12c needed to get the extended options money is far from a given unless we get results that exceed expectations......chances of that are very slim IMO. It doesn't take away from the underlying value, it just won't be reflected in the shareprice until such time as a revenue stream or buyout now IMO.