That sounds like good news for lots of ASX listed gas producers working in the US, but doesn't really hold much positive news for MAE.
For starters, next year will probably be far too late because they need a sale now in order to stop their creditors from closing them down. The situation is pretty dire when you have to increase your credit card limit from $35m to $50m just to pay your bills for a few months. How long do you really think their creditors will give them before one cracks under the pressure and moves to save their own shareholders.
Secondly, even at US$7 mmBTU they haven't been able to demonstrate to potenatial buyers that the field is commercial based on the known production numbers. While some of you guys might believe the story that the Directors are telling you, I am pretty sure that any potential buyer will make decisions based on the facts, not the "visions".
Cheers
Badfish
MAE Price at posting:
38.5¢ Sentiment: Sell Disclosure: Not Held
