There is little doubt that exploration licenses will be awarded or that a farm in to CELS acreage will take place.(see South African budget speech in May -http://www.pmg.org.za/briefing/20130528-minister-mineral-resources-2013-budget-speech-responses-ancda-and-ifp)
The South African government is expected to release the fracking regulations before the end of the year.
When you have articles stating that the asset could be worth $1.9 billion(http://mymarketview.com.au/challenger-energy-cel-a-high-risk-high-reward-play-we-think-has-significant-upside) and CEL has a market cap of around only $39 million , you can see why many are buying in at these levels.Even at 10% of possible asset value , the market cap can multiply 4.5 times.
The beauty for shareholders is that the story is still not well known but share coverage will be increased as word gets out and increased focus is put on South Africas shale resources.
CEL Price at posting:
12.0¢ Sentiment: LT Buy Disclosure: Held
