Judging by the revenue and falling oil price since, that cash from AGL is going to come in very handy. (I imagine oil development will now be jointly funded by AGL too?).
Seems that they would have needed raise capital anyway to further the oil tenement. And to do so, they would have had to dilute shareholder capital significantly anyway. Any sniff of a raising and the share price would have been hammered too. Seems like the AGL deal might have an excellent solution to a very bad situation (e.g. GFC, falling oil price, bad weather). They now have cash...and they mention a potential 1TCF resource for CBM...that is definitely nothing to sniff at.
I wonder if AGL will fast track the transmission investment for the gas too?
Still learning about the company, so would be interested to get some long termers' take on things.
INP Price at posting:
20.3¢ Sentiment: Buy Disclosure: Held
