Commercial gas is given, and I would agree that Ruperts thoughts of a 12c - 18c window should follow, however if they find a commercial deposit of oil then 20c upward is a more likely target for the short term.
That said, the big target is the one to really focus on, at least from an investment perspective, because that's where fortunes can be made. After all the seismic data suggests 2 billion barrels of oil and a major new hydrocarbon province, and the fact that Beach Petroleum who are good at this game, have seen fit to take on the project.
From what I can understand from local information filtering through, this exercise on the go right now has been quite a bit more complex than just plonking a rig above the hole, rather, some delicate attention has been needed. In any case, weeks end comes in a few days time, perhaps even as early as Friday, and if the news is good, then we should see quite a bit of interest from petro analysts.
EPR Price at posting:
6.0¢ Sentiment: Hold Disclosure: Held
