#they are very close, and very probably likely, to prove up considerable 2P reserves from their Cameron tenement.
#They have recently announced 1250PJ 3P from their with a contigency for an additional 750PJ. I think that speaks for itself.
#They have solid interest from major players with shell and arrow each holding around 15% (total ~30).
#Assets close to infrastructure and can be realised quickly.
#They also have some excellent acreage up in the North, Dingonose and Duckworth that they are exploring ar present and are expecting reserve statments from those in late 2009.
#After 31 Dec you can probably expect around 130m shares on market due to option conversion. There are quite a few to be converted.
PES Price at posting:
$2.20 Sentiment: ST Buy Disclosure: Held