Early next week now due to some other commitments at my end.
Last brief chat with Management (2 days ago), work was progressing on J2 and 218 progress was on track.
Re. 218, lots of fracking fluid still being pumped out (as per my last post) but seeing some gas now as well. Obviously, they need to completely get rid of the liquids before any accurate analysis will be undertaken but won't be long now. Expect next week will be a biggie!!!
Just a matter of getting set and having patience. Decent results in conjunction with the resource booking and other news flow should see investors rewarded accordingly. IMO, it's time to be off the fence and make the most of things to come.
Still hard too imaging that at $45m MC speccie can have 122k acres of something this big, The nice thing for me is that it is not the only quality asset they have, Sure 218 is HUGE and from a timeline perspective it is the focus of the day, but there is plenty on offer over and above.
The 20% post permian alone is a biggy. Actually, it could end up being more significant then we understand given the liquids potential. Also, who knows what else could come from left field over the coming months.
ADE Price at posting:
0.0¢ Sentiment: ST Buy Disclosure: Held
