The way I see things are as follows.
1. Issue of permits and regulations has taken way too long.
2. When issue finally happens there may be a cap raising unless farminee
pays a sizeable upfront contribution towards back costs , or whatever.
3. There should be a mild uptick in the share price when permits are issued and again
when a farm-out is announced, but if there is a cap raising to sophisticated investors,
this will put a damper on the share price as the SI's slowly bail out with their
15% to 20% gain. Any big rise in the share price will only happen when we
eventually drill and get positive results, assuming other explorers haven't beaten us to the market.
I suspect the eventual gas sales contract could take a long time and the process might be a bit like
world cup soccer, but that's Africa.
Unfortunately this is not a bullish outlook , and I am locked in at more than twice the current
price. No point in selling now , so will hang in and hope for the best.
CEL Price at posting:
4.0¢ Sentiment: Hold Disclosure: Held
