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In reply to: annaliese on Wednesday 30/05/07 05:14am

Well ill be away from the screen for most of the day as well.


Looking at the pre-open theres two 500k sellers at 0.215 looking to spoil the party http://www.sharescene.com/html/emoticons/thumbdown.gif

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Petroleum News Today

Molopo lifts Chinese CSM reserves, again


Wednesday, 30 May 2007

AN INTERNAL review of Molopo Australia's Liulin coal seam methane block in China has upgraded the most likely gas-in-place estimate to 1.2 trillion cubic feet, up from 700-800 million cubic feet.


The earlier estimate was derived from Fortune Liulin Gas, in which Molopo holds a 40% stake.

Then in January, an independent geological study completed by the Shanxi Coal Bureau ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã‚¡ÃƒÆ’‚¬Ãƒâ€Â¦ÃƒÆ’¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã¢â‚¬Å“ the government institute responsible for most of the region's coal geological analysis ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã‚¡ÃƒÆ’‚¬Ãƒâ€Â¦ÃƒÆ’¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã¢â‚¬Å“ estimated the block contained around 1.4Tcf of gas in-place.

In a statement released yesterday, Molopo said it expected to recover three times more gas than previously expected through the use of horizontal well-based development methods.

Vertical fracced well development techniques would have only been expected to recover 30-40% of the in-place gas reserves, compared with horizontal techniques at 50-70%.

The joint venture is currently dewatering two vertical wells and has plans to drill a further three exploration core holes as well as a horizontal pilot program.

Almost one year ago, Molopo transferred its rights in the Liulin CSM production sharing contract to Fortune, a new incorporated JV company.

Fortune is 40%-owned by Molopo and 60% by JV partner Fortune Oil, which is funding the first $US2.5 million ($A3.3 million) of work at the Liulin project



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In reply to: sally1 on Wednesday 30/05/07 04:34pm

Sally, most online brokers provide the data though they may have trading rules regarding access. Mine for instance only provides market depth for three months from the time of a trade so if you are an infrequent buyer/seller then you can loose the coverage.

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In reply to: sally1 on Wednesday 30/05/07 02:34pm

You want really stupid Sally http://www.sharescene.com/html/emoticons/grrr.gif I just bought double my existing holding and at almost double the price I paid for the first holding. LOL - Why couldna I ave done this last week? http://www.sharescene.com/html/emoticons/sadsmiley02.gif Better late than never tho.

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Hi all, I have just returned home and prior to a short black I switched the computer hoping to see green but to my disbelief its mostly red. Whilst you really never know how the markets reacts, with the DOW/NASDAQ/FTSE up I as hoping for a Maserati Quattro Porte at the end of the day. The Maserati will have to wait a bit longer.


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