if i recall correctly they were targeting 50000mcf: http://stocknessmonster.com/news-item?S=PGS&E=ASX&N=361597 (on page 3) Currently the well field is producing 13,750 MCF per month (up from approximately 12,000 MCF per month in December 2004) which is expected to steadily increase to over 50,000 MCF per month over the next two to three quarters when the Wall Seam is more fully dewatered. This does not include the production increases from the yet to be completed five additional wells at Oriva Throne or the thirty three wells at Oriva Federal.
must say i don't know the fundamentals in great depth but the price action was compelling
PGS Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held