most undervalued co on the asx, page-11

Pussycat, I used just over 82M FPOs/Os exercising below the the closing price, giving $39M captialisation. The link to the latest 3B is here.

"i think you sold yourself short..."

No doubt! I reduced at 40c/15c for TEY/O. However, a profits a profit, and I don't like to have too much money tied up in a venture that gives away 50% project equity for a simple appraisal well. Still holding 50k TEYO, as I still view the harsh terms of the deal as significantly better than nothing, and geothermal distillation is going to provide a significant and profitable shift for Australia's water supplies.

Geothermal distillation readily allows vast quantities of an increasingly valuable resource to be extracted profitably and with minimal environmental impact. TEY (though not exclusively), is ideally positioned for this growth area.

"who's to say GDY don't make a play for tey"

I'd bet my bottom dollar that GDY know that they have quite a financing campaign on their hands just to get the Cooper Basin project off the ground. They could afford TEY, or nearly two more Le Torneau rigs and additional contractors. I know which I would be voting for!

Just scanned back to Commsec as I wrote this. The TEYO are at a negative premium, for any TEY holders/shoppers who are interested.