My read on the capital raising is that Bow seems to be moving away from a partnership arrangement in the short term to a capacity to become a substantial independent supplier of CSG related products (electricity, LNG, household gas, etc). Its presentation to the market uses the term "independent" ("the most significant independent in the region") pointedly. At the same time it is continuing discussions with ?a number of counterparties? for long-term take-off gas arrangements. Fully cashed up, next year will bring much of what BOW has promised to fruition, and with the Blackwater Power Project being commissioned in 2011, on top of further gas reserves being certified, we will see the SP move north in leaps and bounds.
BOW Price at posting:
$1.30 Sentiment: LT Buy Disclosure: Held
