You'd have to think this would start appearing on the takeover radars. It is often said, I know, but first of all you have AWE, who would not be keen on having a viable competitor to provide new gas into the Perth market. There are also internationals looking for cheap acquisitions in Oz shale, as seen by the Magnum investment in NSE, and attempted takeover of AQO.
And at current market cap, you are only covering the asset value of the Canadian assets. Pretty cheap way to buy a potential 10 TCF (35% after completion of farmin) with potential ~$40million farmin expenditure still to come.
This has fallen off the radar of many, and is swamped by stale holders. But this is bound to be seen by a few analysts over the coming days.
