I see the RNS as very positive for the following reasons :
a) 80m of potential pay interval from second well
b) company has advanced the planning of the 2013 exploration programme details of which will be released by end January 2013. This is before any results of flow tests from fracking of first two wells are available. To me this demonstrates great confidence in the Zijinshan PSC.
c) company is providing much more on timing of the ongoing programme ( this should provide regular news flow).
d) MD's statement ( which has been signed off by their consultants ) is confident and says the outcome to date is about as good as they could have hoped for.
LRL Price at posting:
21.0¢ Sentiment: Hold Disclosure: Held
