"Although the capex for shale exploration is beyond Dart "
-------------
JV/Farm-out will take care of that.
Chart is looking good for another leg up. It has been marking time as it recovered from being way oversold.
I think it will end up somewhere between 20-30 cents before the year is out and possibly higher if they can announce a JV with a major with favourable terms.
Going by the Australian shale JV's, it could be anywhere from 100-150m for between 25-50% of the acreage, which would give the total shale assets an initial value of between 200-600m.
COmparing that to Cuadrilla's 960m AUD JV transaction looks quite cheap, but they've done more drilling/fracking.
All up, Dart should be able to come out of it with a transaction valuing their share at around 300m, or 2.5 times the current market cap.
+20m cash +Airth CBM project to come +further cash from asset sales
+Aussie CSG thrown in for laughs.
DTE Price at posting:
12.6¢ Sentiment: Buy Disclosure: Held
