gtv, taking my best guess, the NG will stay 'behind pipe' until enough wells (5? 10? 20?) have been drilled to interest another, more favorable party to run a new line. HMGP is fortunate in that Keith has found multiple payzones in both forms...oil, and gas.
Oil production will pay for new development (wells) while Keith logs the gas potentials. This fits perfectly as an untapped asset to sell to a gas producing company at some distant point in time.
However, even though HMGP will not benefit from immediate NG revenues, with each new well drilled and logged showing NG, the total proven NG reserves will be 'bankable'.
Perhaps as long as HMGP stays on the pinkies, the pps will never fully reflect the true value of the company, easily accessible (U.S.) NG reserves will still command a premium, and if cheapskate penny-players won't pay it, NG producers will be more than happy to 'begin their positions' once they have the proof that Keith is daily working towards increasing.
If HMGP uplists, the pps would more likely reflect proven and probable NG, along with oil, reserves. Otherwise, it's a wait till a buy-out for 'the big reward'.
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