The board felt that the $1.5m offer they received on the NT lease was well over what they felt it was worth, that was the reason to sell as well as government red tape. The question for me is are the board knowledgable enough in oil and gas to even know what it's worth? At least if this ever goes into production with a successful find we will get 1% for 5 years if I remember correctly.
My feeling is Brewer has something very solid here with a fast track strategy to producing cash, this will boost our share price very quickly if I'm right and we could easily be looking at a life changing stock for those heavily loaded.
Hold on for the ride because the brakes will be off in the coming weeks and GLV will finally be going somewhere.
The board felt that the $1.5m offer they received on the NT...
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