Do the maths, NWE currently valued at $60m mostly on the back of arrowsmith-2. They own 27%. If the NWE has the gas, TTE almost certainly has it to.
TTE valued at $11m for 18%. Excluding all other assets and on the same valuation as NWE, TTE should be worth $40m based on ep455 alone. But on top of that we have DR11 also right next door which TTE owns 100% of.
Current market cap is almost supported by AWE spend commitment alone. $7.5m committed to earn 88.5%.
Albers obviously did his maths as well. On a successful NWE frac in June TTE will be on fire.
GEV Price at posting:
15.0¢ Sentiment: Buy Disclosure: Held
