We have a period of three and a half months to repay that Bridging Loan and just maybe they can get their act together and raise those funds with an issue to the Canuks to create a float of shares on the TSX - hopefully at a premium to the current price with a good broker who can force up the price on the ASX. We are still getting a good hedged price for at least two-thirds of the gas we sell but I would have thought it was a good idea to diversify away from a commodity that might not increase in price for a couple of years. The oil price is looking good and they've locked in a good margin with their oil hedging. Good leverage to any good drilling results in Kansas or Nth Dakota.
IMP Price at posting:
11.0¢ Sentiment: LT Buy Disclosure: Held