LOL I came into CHK for the Cobalt early in 2017. After the SP crash never bothered to sell as it just was not worth it. Now almost back in the green (after two +100% days).
Question, since I have little knowledge about this. Do you guys think CHK is really going to drill or is this just to make sure they can sell for a higher price by "threatening" to drill? If BPH and/or RIO are convinced the goods are also in the CHK areas I would expect them to buy us out ASAP. And that would be cheaper now then after drilling. And CHK does not have all that much funds to do this kind of rather deep drilling (deeper is more expensive after all). Also big risk for CHK to actually go drilling I would think. If it is a dud they would have spend their last money on the drilling...
So if I were CHK I would probably be selling the resource to the highest bidder. Leaving the company with a sheet load of money (e.g. 30M) to do some real exploration on some other prospective areas. Would be a wiser move then playing the "all or nothing" card on a couple of really deep dril holes.
Of course CHK could also "milk to market" by doing a CR to fund the drilling program. There seems to be enough market interest
So how do you guys think this will play out? Sell, drill, or CR?
