Hi Golden Rooster, good to see you over here. It's been a long wait to MESNF to get their legs in the East Coast Basin. I am assuming that all investors have seen Tag's newest PR in this region.
Maybe and finally this is the first spark in Mes's Lightening Strike in share price.
I have followed Mes and Bobby Shields for years and have spoken to him a few times. He's very open to investors' queries and very willing to release intel that is not a release of insider information.
From all my research on NZ, the concensus with the gov is that fracing is ok if it is done properly. I would assume that Shields will have his eyes and ears on Tag drilling the Waitangi Valley in the East Coast Basin, and he will probably duplicate that effort in Mes's Whangai Formation.
According to MES's Management Discussion and Analysis dated 3/312/13, the whangai is naturally fractured and widespread throughout the East Coast basin, reaching thicknesses of 600 meters. Three of their most prominent oil seeps in the basin have been geochemically to generation in the Whangai Formation. The oil is light sweet crude with gravities up to 50 degree API.
The amount of oil in place in the East Coast is massive and a third party report on same place 14 billion barrels or more. I think the oil in place in this basin may dwarf the Bakken.
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