GREY:MGMCF - Post by User
Comment by
OilEngon Dec 18, 2013 2:52pm
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Post# 22019408
RE:RE:RE:NWT hopeful of revamped Mackenzie gas project
RE:RE:RE:NWT hopeful of revamped Mackenzie gas project Faram1234: What I am saying is that Imperial needs some testing results on the Canol before they can say anything definitive on the Canol...and so do the MGM shareholders. Conoco is presently drilling and will be testing, but will not release any information. However, the MVP is owned by Conoco, Imperial and Shell, Imperial will not be in the dark about the tests.
If the Canol is not economic, it is difficult for me to see how the Mackenzie Delta has enough reserves to justify a LNG plant of the size that Imperial is proposing. They will have to look elsewhere for reserves.
MGM has cash to last them until the end of 2015. I would think it would be in the shareholders best interests to wait until after testing to do a deal. However, you have to remember that MGM knows a lot more than we do because they are part of the Central Mackenzie Explorer Group which is sharing confidential information. MGM cannot release the information they get because the wells are confidential for 2 years.