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Banter and General Comments .. BRK, page-10512

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Supz187

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10/11/23

08:12

Post #: 70822688
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Originally posted by DoubleDown!: ↑

DP was super vague in the recent briefing and told the meeting that the monetisation could be one option or all three. Initially I was fairly annoyed as it suggested that the progress to date was pretty pathetic and a long way off. I still think progress is slow but I'm starting to join dots now.

I think that it's very likely monetisation will be a series of different events, and I think it will be all three. The major play is the development of the Bruins/Jewell/Flames group. Based on what Continental are doing this could easily cost $40m+ in USD and I think this is what the board want to develop as a partnership or even preferably as a sole fund.

Obviously the company only have half that in the bank and their cash flows aren't sufficient to earn that with the wells and income they currently have. So I think they are looking to offload part of their acreage in a sale to secure more capital. I think with the buy back they have really dialled that back as this capital intense option emerges as the most preferable. It's annoying the company won't change their narrative on the buyback, it's clear they are only using it as a method to prop the price while big holders exit. And that they really don't want to extend it or outlay more capital. I guess they can't without risking giving away their plan.

So I'm now comfortable that the buyback won't accelerate, and monetisation won't be a single event that will transform the price, rather it will be a series of announcements of divestment, partnering and development.

On the flip side I also think this will be a six month or more wait. The current selling from the T5 will not have been sudden without communication, BRK will have been unable to promise progress in the very short term. So the big holders selling is just a reflection that progress and share price appreciation is a way off.

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^^ Important post regarding expectations on the monetisation...

BRK Price at posting: 1.2¢ Sentiment: Buy Disclosure: Held
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Banter and General Comments .. BRK, page-10512

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Banter and General Comments .. BRK, page-10512

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