well its more of a calculated gamble/investment. We based on investment on management and prior records and where the projects are.
Paul Underwood is an exceptional operator, he under promise over deliver, he stuck through with us for a long time during the tough times too.
BSP's track record, they went from 50m mc to 1b mc and the type of investors they attracted arent to be sneezed about.
China needs gas fullstop and CBM is as good as they come, while the longmei deal hasnt really brought us anything to rave about, it still could. Moke was a disaster but getting wang feng block for $1m, I can deal with that plus ordos basin is hard to get into.
Plus BSP's shares wont be traded I think.
They paid 1.5c for the last cap raising, directors' oppies exercise price is 1.5c so we bought under 1.5c.
PS I have been holding since the Paterson cap raising too but thank goodness I only had 1m then.
we bought under 1.5c.
