Pls understand that the only value of our assets, be they exploration or production licences, or plant or resources/reserves in the ground, is set by what other interested parties are prepared to bid for them. And it seems that the only bid forthcoming is 20 cents per share. Wishful thinking or dreams of future glory do not trump the reality of the present. And remember that reality dictates that future drilling to discover new gas resources, while mightily chewing up capital as we have seen in the past, at the very best has maybe a 15 % or so chance of being successful. The world wide average for successful wildcats is 10%, which translates to a 90% chance of failure. Which accounts for the lousy max value for the CVN's of 1.6 cents attributed by the independent expert.
In my considered opinion.
CTP Price at posting:
13.0¢ Sentiment: Hold Disclosure: Held
