gas in poland, page-11

Hello bartom

I would prefer to see myself as patient than emotional ... but then there isn't a lot of difference between an optimist and a denialist is there lol?

When EPG purchased Gazonor, it was valued only on the basis if its CMM assets ... nothing was atributed at all to its CBM potential.

Since purhase, the CMM reserves have been upgraded and imo can be further expanded and if tied to powergen via the French greenhouse gas abatement legislation is quite valuable. During the same period, the CBM reserves have been considered and permit areas have been added.

My punt is that funding to settle the Tanscor convertible notes will somehow be tied/secured to a controlling interest in the CMM value/output of Gazonor w/o involving any rights to CBM.

That would leave EPG with upside exposure to Gazonor CMM and leave them free to arrange farm-ins and JVs for all their French CBM permits, notably Lorraine, Lons le Saunier and Gazonor.

Agreed on the volatility.

Cheers
Dex