some thoughts ...

Morn'n all

A couple of initial thoughts/questions:

# Might yesterday's "bounce" mark a double bottom to the EPG sp chart?

# When has a director buying his company shares been anything other than a positive signal?

I have met Poster ImHardy and from memory he works in the oil/gas industry so I am inclined to believe there is substance to his comment that Mitchell Drilling (AJ Lucas) may be negotiating to provide drilling services to EPG (and others?) in Europe. This would be a real plus imo as the drilling to date with inexperienced and expensive european drillers has been bloody painful.

I did some ferrating last night and found out that Mitchell have had good success with a particular brand of Italian sourced drilling rig ... so buying one (or more?) in Europe and manning it with Aussie and/or American crews makes pretty dood sense as it avoids having to seek European compliance (delays?) for imported rigs.

If yesterday's sp bounce was a double bottom and the MD has just stumped up for on market shares it would be reasonable to expect some positive developments/announcments in the following weeks/months imo ... possibly covering increased gas production intiatives for Gazonor, CBM strategies for Gazonor, progress with Lons le Saunier, completion of the Folschviller test production well at Lorraine and of course funding options for the above.

I did some more ferrating last night and the successful funding model used by AJ Lucas elasewhere in the CBM industry has been drilling at or close to cost and profiting from drilling success based on an equity position ... sounds like a win win to me.

Here's hoping.

Cheers
Dex