drilling will recommence at Mahalo#2 Prospect where Comet has majority interest 40%, Santos & Origin have 30% each.
if the drilling is successful & has high side of estimated Gas In Place. you may see a couple of possible scenario's.
1) Santos make a corporate takeover of Comet
2) Santos buyout Comets interest with a cash offer.
if (1) happens i suspect Santos will only want Mahalo Prospect, perhaps we could see a deal done with Strike Oil with regards to the other assets Comet owns.
if (2) happens we could see a couple of things 1) merger with Strike Oil 2) one off particle cash back offer to shareholders from the proceeds Mahalo prospect
as usual D.Y.O.R & seek professional advice & the above is NOT a buy recommendation
regards
COI Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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