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[researcher59]

ASPN Update

Just spoke with Bob Cohan. He reported that lack of rig availability has slowed their drilling schedule this year, however they are getting 2 rigs within the next 2 weeks and should easily complete their planned drilling program of 10 wells by later this year. One well has been drilled so far, with only modest results, hence no PR. Not a dry well, but evidently not a prolific producer either.

He remarked that high gas prices will boost earnings. I asked about reserves, and he said they would be 'roughly' flat with a year ago, partly due to the lack of drilling by 6/30, their fiscal year end. But they will have at least replaced last year's production. ASPN has approximately 8 years of gas reserves at current production rates. Their Q4 results are due out in late September.