I've called both Peter and Jeff many times I have yet to get through to Jeff but i think i spoke to his wife. Peter is always helpful but when i ask about production levels i got at a guess 8 mmcf... Go figure
There has been a lot of M & A going on both here and the US thats because many companies simply don't have the money to fund further development ie. Sydney gas , MAE etc so their only option is to sell reasonably chap to cashed up companies. Remember though the mega profits these large energy companies got went largely back to share holders right now gas and oil prices are so cheap you couldn't make money for development but its an ideal time to buy then wait for prices to pick up then develop.
MAE will be sold im sure of that we simply don't have cash to keep rolling even if we break even we can't develop and i doubt they will go back to market. I just think if we get 25mmcf the deal will be more on our terms if we delay and dither around it'll be a fire sale.
MAE Price at posting:
31.5¢ Sentiment: Hold Disclosure: Held
