So much for the natural gas glut, just saw gas at $4.70 on...

So much for the natural gas glut, just saw gas at $4.70 on bloomberg.

Story in todays AFR pg 21 about a start up shale player.

Personally think, once we start to see these IPO starts with shale as the main play were off to the races.

Overall market is terrifying me at present would probably lighten up considerably on all my holdings today in normal circumstance. Rising interest rates, rising inflation, commodity prices and oil going completely banana's, just impossible to develop a firm view on anything, really feeling the fear. On past experience usually a good time to buy :)

But having just drilled up a producing oil well and a second coming on line and Im projecting a bottom line of about $4mil next year, my feeling on ADE is were about fairly priced on actual production assets with practically nothing in the price for speculation.

Seriously believe that in better times we would already be at a MC of $100mil just on spec.

Even if nothing flowed out of the ground at the end of this month after the frac in the cooper cannot see the price being too decimated. and we know for certain were going to get something, it really will come down to liquids and flow rates.

Its a crazy world, very interesting times.