GAS 0.55% 91.0¢ state gas limited

Exactly.That's for the prospective buyer and their technical...

  1. 821 Posts.
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    That's for the prospective buyer and their technical team which are way smarter at working that out than us here on HC.
    Look no doubt there will need to be more work completed on drilling of the permit hence the last sentence below para.
    But Team GAS and Highbury must be of the opinion that this is ready to be sold.
    Note the following -
    Nyanda-4 spudded on 22 November with a planned Total Depth of 1000m. However, as a result of the favourable results achieved from drilling and testing, the well was extended a further 200m to 1200m. Approximately 150m of core was obtained, commencing at 392m depth. The well was also logged, and drill stem tests conducted. The well reached the revised total depth on 30 November and the rig was released on 3 November. Again because of the favourable results, the Nyanda-4 well has been suspended for future re-entry and testing, rather than plugged and abandoned as originally planned. 

    Nyanda-4 was depth extended. Cost more money to do this. I am advised they used all the available rods up on the extension and the Rig was not the one to go much deeper anyway.
    Drilling at depth is big money. Nobody for us to share the cost with. We maxed our Budget on the 2 drills.
    We got excellent bang for buck on what was achieved thanks to all involved.
    Highbury has only had the listing for one week so we need to give it some time.
    But this has to get anybody into GAS a tad excited-
    Gas was observed bubbling from the coal and hissing from sandstones in Nyanda-4 cores. Numerous gas shows were seen in the logs, associated with both coals and sandstones. RRRrrrrr hiss away baby.
    Obviously some out there are in the know because the SP would not be at where its at now without good reason. That's my take anyway.
    Time will tell no doubt.
    Above all IMHO as always DYOR.
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