It's no more nor less than was in train 12 months ago.
As regards a buyer for the IP, I think the real problem for Carbon Energy is that the IP is committed to Pac Road. Why would the Chinese buy it from CNX for a margin when they could possibly get it at cost by simply waiting for Pac Road to call in its loan?
All this assumes of course that the IP has any value. It has not been demonstrated to work commercially - it seems to be well known that the electricity authority (Ergon Energy) did not buy any electricity from CNX.
As regards a buyer for the the coal, soon it will be cheaper to buy control of the company instead of buying the coal tenements.
The good thing in all this is that with reduced expenses and a gently downward trend of 1.5 cents per month, there is another quarter for shareholders to quietly exit without a crash.
Its a classic model and money can be made on these types of plays.
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