Understand the feeling invertda. I was expecting around $30-40M for the acreage and tommy lake assets on a bad day, close to breakeven. Who knew the management could do much worse? At a guess probably poured about $45M into the project, given time and company costs, drilling and lease maintenance. Extremely disappointing.
This was their carrot for CE1 shareholders, the eternal promise of Montney.
I think the share price still undervalues the assets, and return, but with this management you would really have to wonder. They seem to be able to value destroy, while over selling to shareholders.... the only ones they are able to oversell too.
(20min delay)