Ive been waiting for a report of this style for a while... Tie-ins with esso, upside from a low risk tie in with sea lion look really exciting... makes you think that if the stars line up (and this is not looking too far fetched) that this one could hit close to $1 when a JV partner is signed up... and if you were in the market for a project, why wouldnt you want to partner up with these assets?
The market has been void of any deals due to price of oil, credit tightening and general caution regards any capital expenditure. The thing i also believe that has been halting deals is the uncertainty of global growth.
Those feelings seem to be subsiding and the market for doing a deal to benefit all parties- JV and shareholders is looking better every day. I dont expect any deals to be signed away hastily, but with great advisors on board, who seem to only want to work with projects they think are marketable I think that TDO will take off and i can comfortably recommend this to both the aggressive and conservative investor.
Poke holes in the report if you have a beef with the company, but what you cannot poke holes at are the facts- 8mill reserves -10 mill cash and a world climbing out of recession.
Have i mentioned Bass Basin and Felix???
7.8mil cash- 2.2 mil drill refund? 10 mill? thats 5c a share?
TDO Price at posting:
12.5¢ Sentiment: Buy Disclosure: Held
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