agree with choratio, the share price should be north of 14cents which were the highs around a year and a half ago when there was still uncertainty about the regulations. 20c minimum.
back in Feb 2014 i wrote
CEL has an application to drill for Shale Gas in the Karoo Basin (South Africa). The application is for 1 million acres around Cranmere CR 1/68, the only well in the entire Karoo Basin to flow significant gas to surface. In 1968, Cranmere CR 1/68 had flowed more than 8 million cubic feet of gas per day from a 158 foot (48 metre) shale interval. Large players such as Chesapeake, Statoil, Sasol and Falcon Oil & Gas have also moved in on the action. The US department of energy estimated that 485 trillion cubic feet of recoverable shale gas resources could be hosted in the Karoo. CEL has a potential asset worth $1.9b with a current market cap of $33.79M
CEL Price at posting:
7.5¢ Sentiment: Buy Disclosure: Held
