A very nice analysis Invertedva. Today the buy line has reappeared at .006. Though the buying beyond .005 is rather thin. Of course, the fact remains that FUT did find natural gas in the well, and the pressure did build to 10000 psi, albeit slowly, indicating a tight formation. They have a resource, and are making all the right moves, acidizing the formation to soften it up, then proceeding with a frac plan. This is all common practice in the US these days, as the oil and gas resources become more scarce. By the way, someone asked yesterday why Shell didn't frac the formation 30 years ago- that's an easy one- probably a combination of the following factors: the technology hadn't been properly developed back then, the current gas price didn't warrant any further risk and there were more free flowing resources they could move on to. So they just logged it, plugged it and left it for future development. cheers, JH
FUT Price at posting:
0.6¢ Sentiment: Buy Disclosure: Held
