Hello OG, I entered this in the hope that Crevantes would hit the jackpot. Then i thought id wait for the re-rate once the gas starts flowing. So Im here.
Some points for your consideration: they've paid for the wells etc..so the opex would have to reduce to reflect this. the money up front from GSA means reduced revenue until that is paid off. I have not followed too closely, but did they lock in to a $10/GJ price? or do they have a formula linked to spot/current? Odin and any un-contracted gas from Vali - to be sold at spot will be the windfall...one hopes. But it seems its 12 months before Odin comes on stream. :-(
MEL Price at posting:
2.3¢ Sentiment: None Disclosure: Held
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