Thanks for that, nice summary but mate you left out THE most important word when it comes to Metgasco: "stranded". Every single puff of gas that Metgasco has found and is likely to find is stranded from the high price eastern seaboard markets and the even higher prices east Asian markets.
As soon as it is plausible to leave that word out of a description of Metgasco then yes we can start talking of possible increases in market value for MEL in the multiples but not before imo.
Also I suggest having the board and senior executive ranks of Metgasco all filled by people whose careers up till now have been in big oil is a twin edged sword. Yes they know how to make big companies purr but it also means that they have proven their worth as bureaucrats, not entrepreneurs. I suspect what Metgasco really needs at this point in time to break through all the barriers in front of it is some Richard Cottee-like mongrel, not someone well versed in back-scratching and report-writing. Not saying that the current team are not highly skilled but I just wonder whether they have the appropriate skills-set for a tiddler like Metgasco.
MEL Price at posting:
21.0¢ Sentiment: Hold Disclosure: Held
