After reading this in Beach's RBS MORGANS Announcement, you have to know that ADE is worth a hell of a lot more than 20 cents, I am holding on. DYOR
PEL 218 program highlights to date • Results from Encounter-1 and Holdfast-1 exceeded expectations due to: – Shale thickness – Gas saturated sands outside structural closure – 700 metres of gas saturated section encountered – ~2 MMcfd maximum flow rate from Holdfast-1 post stimulation – 2 Tcf contingent resource booking • 480 metres of core recovered which assists technical analysis 300+ Tcf of gas in place estimated for PEL 218 as a result of initial program RBS Branch Manager’s Conference – 11 November 2011 Slide 15 • REM thickness exceeded expectations at 350 - 400 metres • Core and log analysis indicates REM, Toolachee, Daralingie and Patchawarra Formations all gas saturated • Fracture stimulation confirmed gas flows from Roseneath Shale to the top of Patchawarra Formation • Potential for a further 600 metres of gas saturation in the Patchawarra Formation - to be tested in 2012 PEL
ADE Price at posting:
20.0¢ Sentiment: Hold Disclosure: Held