Ann: June 2023 Quarterly Activities and Cash Flow Report, page-40

WTI crude futures jumped more than 1% to above $82 per barrel on Wednesday, hitting the highest levels in over three months after an industry report showed that US crude inventories declined by 15.4 million barrels last week. The latest figure far exceeded market expectations for a 1.37 million barrel draw, and if confirmed by official data due later on Wednesday, it would mark the largest drop in US crude inventories in over four decades.....


So we had offers for Blackspur assets but at the time of the Neg the price of Oil fell to a level that the purchaser couldn't get funding for .. well as the above states OIL has been moving and should well continue into the $90bbl's

As "retorn" posted>>>

• Acquirer was a roll-up play with the intention to list on the TSX
• The plan was to distribute 80-90% of the proceeds to holders and keep the rest in the vehicle
• Glenn alluded that the price was lower than TSX comps of 2.5-3.5x EV/EBITDA.
• If Glenn is also saying we're worth 1.5x EBITDA then we have a range. Let's say 2-2.25x. Using CE1's definition of EBITDA of A$66m then roughly that implies an offer price of $132m - $148m (roughly).
• For those that want a share price equivalent, the above works out to 21.5c to ~24c, plus we keep Montney

IMHO 20c+ for the Blackspur assets would have to be a great exit price at this point in time (as we have seen net profit margins haven't be that impressive maybe a new company can deliver?)

I see the "Montney project" had a risked value given by the last analyst report of 5cps ...

And here we have SP 9.4c

Backs up my reason for my recent purchases 9c av.