Cluff are pleased to announce their involvement in this "high quality, low cost project" ... well you would be, when you have just potentially claimed 25% of the project for $5 or $6 million.
This undervalues the project, even at the lowly MC we are at currently, completely ignoring the potential value.
What is the bullshit about Cluff looking forward to do a capital raise ... for $6 million I doubt they'll need to
Why do we even need a farm in partner ... our US interested parties could have given us $6 mill surely ... especially if they were told they could have 25% of the project.
There has to be more to this. You don't give away 25% of a project for 33% of drilling ... otherwise oil and gas projects would only ever be worth the value of the cost of drilling ... which they are not. Drilling cost is a pittance of the subsequent value if you make a strike.
Are they paying for marketing of product, and required infrastructure, paying for community projects and back costs. Must be.
So why doesn't the announcement tell us all of this.
Lazy announcement in my opinion
Ann: Farm in Option Agreement for a 2-well Campaign, page-82
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