It makes sense to relocate CNG to Roguemont. There are likely be other pilot wells drilled and tested with it better to monetise the gas rather than just flare it. The question is how do they fund these wells: - do they go slower and fund via CNG with a perhaps smaller capital raise or gas prepayment - do they sell down equity in permit and drill faster - do they undertake a larger capital raise and go faster - can they come up with a solution that is not dilutive to existing shareholders
The good thing is that it looks pretty certain that the permit is valuable but we need to prove up reserves so we are not taken over cheaply.
GAS Price at posting:
28.0¢ Sentiment: Buy Disclosure: Held
