Cheal C1 (Cardiff)
This is certainly good news.
I wonder how long it will take for them to release flow rates as they still have Sidewinder 2 & 4 to complete and with the location of this new discovery being 3.5 kms away, how long it will take to bring into production.
I don't think the markets can ignore or penalize this stock much longer as there is so much good happening here and once the oil & gas start to come into production (Aug/Sept 2011)cash flow is going to explode.
There is activity on the East Coast as management has released tidbits from time to time about shallow exploration wells etc. I believe it is just a matter of time before something of consequence is announced here as well.
I think the March 31, 2011 Financials should bring some good news as well as it looks like TAG produced 55-58k BOE for the final quarter based on Johnson's claim they produced 160,000 for the year. They had 102k of production at end of Q3.
Hopefully these statements will show the company being profitable for the very first time. This would help bring some much needed credibility to both the company and the management.
Some of the lack of market acceptance can be directly attributed to the fact that many of the market players do not like this management team due to past failures.
I believe this reputation is about to change.
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