Agree - March will present a major buying opportunity. All has been revealed. Independent assessment of Cleer Creek is 1.5 TCF of potential reserves of gas. A long way to go but this is potentially worth $3 billion if eventually proven. Not revenue but value. Revenue would be more like $10 billion. These are massive numbers, need to be risk adjusted and represent totals over the life of the field, but in my opinion indicate the value of the company. The Ridge Runner 11-17 well alone with generate revenue of $10m pa - just 1 well. Marion's other projects are also pretty substantial. Once the options are out of the way, the infrastructure is fixed up and the well flow problems are treated (say in 3-6 months time) then this will fly in my opinion. You can either wait for the inevitable or get in cheap like the directors during March. You just need to be prepared to buy above the floor, but in my view if you are patient you will be rewarded. Why else would directors continue to buy???
Just my opinion Monty
MAE Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
