Just went through the due diligence report that was published yesterday on the website of European Gas. Pretty interesting report. Their tehcnical review of Lorraine and this approach to a full development of the area is new to me. Probably the first touch of the revised approach the new team is putting together.
http://www.europeangas.com.au/newsDisplay/files/1282637186.pdf
P8: The analysts seem to be very confident the management will be resolving the convertible note issue by the end of September. Will try to contact them to get a sense of what the management told and show to their team in France to get them so confident.
There is a slide on comparables as well. Did not realize European Gas has the same 1P/2P/3P profile as Molopo but was so discounted compared to Molopo and other players.
All in all, this confirms my positive view on this counter.
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