I have no idea what 50% of a proven 30 million barrels plus 200 to 300 $m gas is worth in the ground - but it has to be worth a fair bit surely?
It must be a big decision to sell your company maker. An interesting move for a pack of really bright blokes with a good (very good) track record. It makes no sense at all to sell cheap. But is does make sense to sell a great asset to build another asset that will guarantee cash flow for a long term, especially for an exploration company.
We all seem in the dark with this 180 turn. Too many unknowns. Could this be a strategic move by Chinese or Indian/Korean interests? Hmmm, that would be good, they seem to pay high prices for strategy.
Just raving in the dark. And awaiting my refund cheque:) I have great faith in these people, but I am not really keen on surprises - that being said I will enjoy a bottle of Dom if this is a big pleasant surprise :) Pinto
STU Price at posting:
64.0¢ Sentiment: Hold Disclosure: Held
