perspective, not an excuse

What a journey over 5 to 6 yrs!

From sub 2c as KBO ... a change in business emphasis to CSG ... rising to a smidge over $1 as EPG and then grinding back to about 8c before the recent rise to 19.5c.

There is no doubting the move to CSG was a good one. And in my view there is no doubt the management that oversaw that wild ride did much that was good.

The original CSG assets, the purchase of Gazonor CMM assets, booking contingent reserves at Gazonor including CBM and Lorraine too I recall, raising an appropriate amount of funds in a very non dilutive manner ... and a few more things.

The legacy of that good work is te potential for a rebound imo, provided the new management are up to it and provided, as others point out, the Transcor convetible notes get refinanced via a reasonable deal.

Two things that the previous management did wrong (again imo) was 1) to bet the house on a high risk win/lose initial program at Lorraine and 2) think they could go it alone on the other side of the world in the notoriously expensive game of developing new, productive CSG assets.

I remain optimistic that the current share price action reflects behind the scenes confidence/knowledge that refinancing is progressing well.

A JV or farm-in with one or more respected Aussie CBM explorer(s)/producer(s) with sound drilling/completions knowledge and the ability to attract Aussie drilling expertise to France would be a real positive imo.

In North America 15-20 yrs ago and in Australia over the past 5-10 yrs there were numerous examples of the old addage "the early bird gets the worm but the second mouse gets the cheese" with respect to efforts to develop and commercialise new CBM basins ... it almost always takes several goes to develop the technology to unlock CBM from a new basin.

So far I like what the new management is releasing via ASX announcements ... the share price says they are making some good moves.

Sigh, what's another 6 months lol?

Dex