ROS .. the gamblers anonymous thread !!!

taken from todays `The Business On Line`

...`The benchmark gas price last week continued to hover at around $15 per million thermal units (mmtu) – the equivalent of a $90 oil price. But as recently as 1998 it was just over $1 per mmtu, and the average price over the last decade has been below $5. Unconventional gas costs between $4 and $7 per mmtu to produce. ....`


some one posted during last week that `our Jaqueline` stated that `no profiling had taken place this year` so presumably...and probably because of the immenant `sale` of the field, as much gas was extracted from the field as possible prior to the finalisation of any potential deal....we don`t know if ROS renewed the Gas Sales Contract with RWE?...not to mention the fact that ...probably overheads such as office/ wages etc...have been `booked` against 7h and with the current gas price surge 7h might even turn out to be `breaking even`, that is of course not including bank re-payments.In the 2004 results it was claimed that it was only the lack of funds that prevented the company from trying to find the missing 64bcf of 7h gas...In the above article, an interesting piece was that American engineers who have encountered the same problematical geology as 7h have succesfully used explosives to build up gas pressures.....whereas as 7h are to wait until 2007 for compressor units.