this is the 4th well out of 10 short term. Check out the thickness of the coal seam..35m is impressive. Planet is planing to drill up to 200 - 220 wells in this area. They own the area 100%. Its also interesting that these wells can make us$1m + pa for 7 years. Do the maths on that and take a look at the current market cap. Its a joke. I expect planet to be through $1 within 12 months given the maths. Mac Bank have provided the us$8m required to drill and drill and drill. Its a sleeper with massive upside and limited risk IMO. I bought stock for a hold.
PGS Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
