Member Info for wordog

Our neighbours are doing. http://clients.weblink.com.au/clients/sinogasenergy/article.asp?asx=SEH&view=6684916 14 wells drilled and tested with CRR submitted, all in 2014.

The third commercial well is the key. That would allow a CRR and would confirm commercial viability of the PSC. Then I would expect a double bag situation.

The SP increased by just over 30% on flow test results from well 5. The situation, demerger and cash, has changed so I wouldn't like to guess. Double figures would be nice though.

I'm not sure about that, it would be illegal for him to purchase whilst having price sensitive information. I would expect he purchased just before actual flow testing began.

25% yesterday and 5.58% today. Can anyone explain this to me?

not much luck for me this year, i have been in GKP and TRP.

for my 5p plus prediction, but i'll take 4.875. Just hope the spread narrows soon, it s a killer.

top recommended posters on LSE in the last 30 days are LEN holders, interesting. OK back to work, GLA.

That was a director buy, we are waiting for the company to buy shares back utilising their cash in bank. It was a promise from the AGM.

My best guess is first week in August but they have been notoriously slow in the past. Remember tight gas is about unlocking the resource, its not just a case of tapping into reservoir. Depending on how complicated the structure is it could be even later. Tight gas structures are normally saturated with water and so isolating the water and building enough pressure is the key to a commercial well. That is if the gas is there. As for the buy back, i'm not sure on the rules but i would suspect they are similar to director buys and so would expect to see it pre results and given the kim howell has just bought in it could make sense. Then again these chunks of buys could be other board members buying in too?

lets hope we keep some momentum here.

welcome to the club.

The spread will narrow, it must be putting people off.

Was just about to say the same, the nature of the buys suggests it. This could be the last chance to top up, this will be 5p plus at finish today,.

i would expect an acquisition before zsj8 results as if 7 and 8 are dusters they need a backup plan.

it took 12 weeks to test wells 5 and 6 last time with delays with admin and site clearance. So lets say 4 weeks per well without delays, that means results first week in august maybe. The drift will continue until then!

Makes no sense, whats going on?

needs to put his hand in his pocket now, but good to see a commitment from Mr Howell. I thought we would see a second RNS confirming that the actual testing has started but it seems that the next thing we will hear will have the word water or gas in it.

Our main advisors also advise that horizontal wells are the most effective way of extracting tight gas. http://www.halliburton.com/public/common/trends.pdf

I keep an eye on announcements from our neighbour Sino Gas & Energy ( SEH on the ASX )and spotted these earlier in the week. On Tuesday Sino announced the gas flow from their first horizontal well on Linxing West. This tested at circa 5 million scf /day which is massive. I wonder if LEN are going to consider a horizontal well at some stage. On Wednesday they announced the appointment of a new non executive chairman, Philip Bainbridge who worked for 23 years at BP but doesn't appear to have been as senior as John Manzoni or Tony Meggs. This recognises the need for people with heavyweight O & G experience to drive projects like Sino's and ours. I understand from a contact close to the brokers that Newmont have sold out their holding - they were not obliged to disclose this to the market.