todays oiler to watch !!!!!!!!!!!!!!!!!!!!!!!

  1. 1,452 Posts.
    longreach oil (LGO) announces after market yesterday that-

    drilling is scheduled to commence at yellowbank creek #4 in october 2004. (estimated 5.2 million barrels of oil)

    their application for permit (ATP) 755P in the surat basin is being processed. (is this close to OEXs rookwood???)

    longreach was granted a group 8 minerals exploration license (geothermal energy) and permit EL 6212 for the sydney basin. this allows geothermal electricity exploration within an area of approximately 5,500 km2 (next GDY???)

    the company continues to examine additional petroleum and energy areas in australia and overseas.

    farm-out submissions are in progress for LGOs onshore carnarvon basin permits EP-369, EP-405 and EP-410.

    net assets of $7 million versus market capitalisation of $2 million.

    a very positive announcement from LGO. this company now has its fingers in many pies. how much higher will the market send it tomorrow???
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