Hi Richard,
I think you'll get an opportunity to accumulate more. I doubt that we'll see any real increase in volume or price until the earliest of:
(a) Aug 20 when successful bids for the first land sale are known, if land goes for a "good" price, or
(b) Apache elects to spud their next earning well (irrespective of what block it may be drilled on), or
(c) "Buyers" see a ~25MMCF/D flare following the pending acid frac on 3-22 deep zone, or
(d) A shallow development well is spudded.
But, I also think that as soon as we get one of the above events there may be a significant gap up. Time will tell, however.
Later,
grayhairs
P.S.-- The commercial viability of the 3-22 deep reserves has been "questioned" in a very recent post. (Why, I have no idea unless that big bad cyber wolf is trying to steal some cheap stock.) The deep reserve in 3-22 WILL be placed into commercial production. There is NO QUESTION about that!! And just to be perfectly clear on this, that is not just my opinion, THAT IS A FACT!!! |
