Cyesp,
As L.C. and others have pointed out Greg Noval completely mishandled the Mariner results and was invited into court by a multitude of legal firms for his efforts and for good reason. I too was invested in SNG during Mariner and barely got out on that fateful day of March 11, 2004 and have stood clear of it until they spudded Victory.
I would suspect that Noval has learned his lesson in sending out misleading Pr's.
The fact that they state test figures as opposed to a "successful well" and that it comes from Craig Mckenzie, makes me feel comfortable with the Pr.
Also the fact that BG came in after passing thru the initial sands, told me that Victory is on trend with Dolphin Deep, which further bolsters the truthfulness of the Pr, BG doesn't play Pr games to my knowledge.
I also suspect that BG put their man on the deck (Mckenzie)due to Novals penchant for overstatement in the past.
There are some interesting and conservative projections of value on the Investor Village SNG board as well as the Yahoo board, pointing to a $7.50 PPS for this single sand,
Also of note the initial results at Dolphin Deep tested from 3 sands for a total of 35MMCF/D on a restricted basis and they have never looked back, only upping the reserves and production as time has passed.
So Greg is a swashbuckler and Elephant hunter and as every hunter knows, patience is the key to the kill and it looks like Greg has gotten his Elephant. IMO.
I believe that Mckenzie said at the most recent investor conference that SNG presented at, that they would double their reserves by the 2nd Q of 2008, that may have been a conservative leak in hindsight.
Best of luck to us is good with me,
Dave. |
