dte roadshow- a desperate final act, page-21

I think that Hara has been very modest with his observations, but is wrong to suggest that the change of tack was to save face - I think that it is more to save it from destruction!

The Roadshow presentation shows that income from gas in PEDL133 will not be before Q3/4 2014. There is simply no money to continue with development, and no substantial income before the money runs out.

The Roadshow does show securing funding base occuring in Q2/3/4 2013. DTE has been unable to find any funding from new investors (eg AIM listing), so one might expect any "non-core" asset sales will bring fire sale prices. This may, or may not, generate sufficient money to enable development of PEDL133.

To my way of thinking PEDL133 is the key to DTE's survival, and obtaining money from "non-core" asset sales is the key to being able to develop PEDL133. They probably have about 6 months obtain the funding. I'm not overly confident that their assets will amount to much in a fire sale.

I currently hold some DTE, but I hold no illusions that DTE could end up being worth less than it's current value.

We DTE holders should welcome contributions from the likes of Hara who bring a little realism (or at least something to think about) to the normal euphoria of HC.