Yes we maybe jumping the gun Merle, but it sounds like they have a buyer in the waiting for Clear Creek.
Hard to imagine whats its worth without any gas flow results but originally though it might take to October to see the real flows given the pump down of water, compression issues and cold winter.
Maybe they are testing and isolating wells to measure flows rather than collecting and producing, due to compression issues and maintainence, but you would have to think it might have improved from the last report 70 days ago. An update would be well overdue.
Sounds like someone wants it. As you point out Merle they have other assets as well, so to pay off debt and have cash in the bank would be a real philip for a re rate. Will it relist? If the directors want to convert options then you would say yes.
I think its pretty good news, but still a bit to play out but sounds positive in my opinion. Keep our fingers crossed.
This company has had so many chances to go belly up and out but keeps getting rescued.
Financiers must see value in it!
MAE Price at posting:
0.6¢ Sentiment: Hold Disclosure: Held
