I think it's the same sector wide, it will take a while to get things kick started again with regards to exploration but the simple fact that many of these tenements have been severely devalued due to the morotorium on fracking means that many are due for a rerate based purely on a reversion to the mean where they would have been valued had the fracking enquiry not taken place.
With regards to EEG specifically, I think there is plenty of potential there having a company that is well versed with oil and gas exploration and production. Income from production in the US isn't anything special however they appear to have tightened there belts and still managed to maintain cashflows despite ordinary oil prices in the last couple of years. Two concerns for me were firstly the recent capital raising at 1.25c however the volume in the last two days should nearly have cleared the overhang. Second was the termination of a quite lucrative farm out agreement with AEP last year due to the passing of the Founder of the company. I think once they can negotiate a new JV partnership things will certainly get a kick along but as to the timing for an announcement regarding the same I don't think it will be immediate. Obviously there will need to be a fair amount of due diligence regarding the recommendations from the report so in short it seems a case of when not if regarding a JV.
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