Looking good 30 Jun 2014 14:11
Bargain hunters stepping in. Solid support around lower 4p levels.
Looks like China need to scale back coal use to meet carbon FP directives in 2015. This is where our 1Tcf methane Zijinshan project can step in.
Encouraginly 12 Tcf has been estimated from field to the southwest of our space. Additionally, Shell is actively investing £500M per annum to tap into China's resource. So it's good LEN has a strong foot hold with our 'super do per' new board and new focus: John Manzoni (Talisman/BP) who brought Tony Megg a senior BP technical director. Also Tim Howe from MNA dept who had a hand in BG group development from a $10 to 40 billion value!!!
Interim testing programme at our flagship Zijinshan project to test the gas and water properties in wells ZJS5 and ZJS6 is underway.
Chairman John Manzoni commented (6 May): "We are delighted to be able to recommence activities on the Zijinshan project and look forward to reporting results as they come to hand. We remain very active on the acquisition front and are pleased at the strong financial support we have received to date for the potential acquisitions we are working on."
3 to 1 with interest building