Sandstone, I think you are mistaken. BPT released those Moonta...

Sandstone, I think you are mistaken. BPT released those Moonta results last friday (18/1) at just before the market close and the stock was clobbered from a high of $1.50 before the news leaked down to about $1.30 or so yesterday. The Moonta results were seen as fairly poor....dont ask me just look at the market concensus.......for a 14 stage frac i.e pretty big the flow rate is a long way short of economic and there are no liquids which is the big factor needed to make profits from shale. I believe they need flow rates closer to 8-10mmscfd to make money at $5 gas. The ICN news was purely the company trying to take the heat out of the bad BPT news but the release said nothing.........so the pressure now is really on the Halifax well for a good result or the shale story in Australia is looking pretty weak...

Thats how I see it......but if you dont agree with me just look at the market reaction in the shale stocks, SXY, DLS, BPT......now the market may be wrong but at least in the short run it has spoken.