now a gas producer, page-23

Acccording to the half yearly "The company has arranged financing ..... through a loan facility" over it's BMX holdings. This is for the initial drilling. They will then "review future financing alternatives"

Their holding in BMX is currently worth 16.6 million $$ - That's 5 mil $$ MORE than IMP's current MC. Ridiculous!! So they will have no problems raising more funds for the rest of drilling which will be based on the future economic of the project. At this stage the indications are that they will be economical. I am also interested in the statement that the J/V are looking for more aquisitions.

IMO there is not much downside in this one


cheers