I tend to agree that Metgasco would know at least preliminary...

I tend to agree that Metgasco would know at least preliminary figures for results from the rest of Kingfisher. I also think that there's a strong possibility that the next announcement may contain further results but as part of an announcement about divesting the PEL 16 interests to a major partner...
I have been struggling to comprehend who is selling this at the moment knowing that MEL themselves have confirmed corporate activity in the background, with the obvious upside of Kingfisher results also pending.

If MEtgasco directors had a shocking day at the negotiating table and gave away the 3P CSG reserves alone at an abysmal 20c per PJ... 50% of that would still give us our Market Cap worth of cash to start planning the future of this field development and others, and presumably a JV partner to help finance half of the future development at PEL16 besides...
I just can't see a scenario where the management team settles for a deal that doesn't add a lot of value to the company's current position. And if they come to almost any agreement, crude calculations would suggest that MEL is undervalued by at least a half based on the worst metrics of a deal in CSG industry history. Am I missing something??

I can't help but feel that the current share price is offering a tremendous opportunity to build a position at a great price... But I felt the same when I bought more at 67c and 62.5c in the last few weeks. wish I had that money available now!!! I will be buying more as soon as I can, but that probably means the share price is headed lower yet... which means I'll buy more then too...

But please advise if I'm overlooking something and save me pouring good money after bad???