re: citigroup increases holding Hi Jana,
New CEO from all reports I've heard is "right guy in right place at the right time". Good to have an experienced gasman (yes, another one) running the show.
In-seam drilling project currently under way sounds very promising. As SGL stated, they expect between 2 to 6 times the gas from each well compared to normal vertical well. I am unaware of cost of in-seam vs vertical but with in-seam there is no fraccing required, so that will be a big saving in $ and time - wells should be in production much sooner. And you get a lot more gas and I guess no water. Flow rates should be available I guess as soon as they pull the drill bit out.
Also, they don't have to negotiate with so many landowners - can think of a couple of properties around Camden that would be nice to drill under.
Let's hope the in-seam works.
The wells targeting the conventional gas reserviours to be drilled early 07 will be very exciting - could prove up enormous reserves very quickly.
SGL
ricegrowers limited
re: citigroup increases holding Hi Jana,New CEO from all reports...
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