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Gold/Mining/Energy : The Oil & Gas Elephant Hunt
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To: LoneClone who wrote (234)2/16/2007 7:12:05 PM
From: sageyrain  Read Replies (1) of 310
 
The selloff I think is due to-

1) Discounting the fractured shale gas because they will not be able to do a frac job on it until this fall. In the short term they are only going to do an open hole flow test to see if it can produce without fracing, and I think this is seen as unlikely, and not a sure thing by fracing either.

2) Fear that the deeper sands will not be tested by the relatively shallow depth capability of this rig and so deeper testing will be delayed, or that because the sands were not hit where projected that they won't be present at all.

Mostly I think it boils down to impatience.
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