I really like Gloucester, but cash is King in these crazy times. If a cashed up local or foreign major wants our 30% stake above $200 million USD then I think we would be truelly blessed.
This would allow a proper ramp up of the QLD assets development to production and 2P reserves - 7.5tcf gas in place, instead of the weak arse development timetable at present --> LNG out of Gladstone as a supplier; power generation etc. I would divest of the China lake like "assets". How much bloody water is on top of the gas ? Develop CNG, mini LNG in SA from the used mines venting gas quickly. Collect the carbon credits and provide the Africans with much needed clean gas and power. Develop the Canadian assets post haste with joint venture partners - Junex and others with 25% farm ins and drilling deals. Hold onto about 51% controlling interest in gas and tenemant holding.
Within 2-5 years Molopo should be a multi billion dollar company with big cashflows and huge 2P reserves instead of a weak minnow at the mercy of the vultures.
MPO Price at posting:
42.8¢ Sentiment: Hold Disclosure: Held
