What I was going to say was, it all sounds too familiar but one thing for certain is MAE has the proven BCF in the ground and has at least 3-4years head start on these other guys.
The Drunkards wash field is undoubtedly the bigger field in Utah and just around the corner from MAEs assets, but still in the vicinity Devons H/O. Devon would for infrastructure purposes be looking long and hard at MAE.
I will say it again and the punt has always been on the flowrates of the drilled wells, prove that, and not be distracted by the sale process and you have yourself a deal.
I will be pressing JC long hard at the AGM to sure up his long standing statement that 20mmcf p/d is and was always acheivable.
I argue that not much has changed in the fundamentals of MAE in the last year, only the expectation that MAE will be sold and the GFC. See some light at the end and proven flowrates MAE will be sold.
Anyone else?
GSL.
MAE Price at posting:
17.0¢ Sentiment: Buy Disclosure: Held
