Just been working through the prospectus and will be looking to pick up a few more, I have trouble seeing this trade at less than 20 cents even in this current market.
* CBM, reliable technology these days, a bit like a factory, you do the work and up pops the gas. Not as sexy as drilling for oil and getting a gusher, but way more reliable.
* 13,280 acres
* 30 wells drilled
* 16 wells completed
* been dewater for 2.5 years, gas starting to show at the well head
* P2 of 50Bcf
* Top management team as I look through their CV's
Now the good bit, I reckon there has to be some news flows and re-rate opportunities after listing.
a) Take the lid of the wells and measure flows
b) Sell some gas and generate income
c) Most exciting of all, once there are commercial gas flows, the P2 becomes reportable as P1 !!!
The other things in the goody bag are the "free" options (1 for 2) and the loyalty options in the future also 1 for 2
The guys seem to be moving really quickly on this one, there are only 3 weeks to get the extra shares. GL to all
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