1. Sell spot gas at $8/Gj+ (per STX announcement today) 2. Sell condensate (announcement due per Colby Proactive interview - condensate is NOT currently in the MST val) 3. Bring gas to surface at Lucky Fox/Snow Leopard - prove commercial viability 4. Add to Gurvantes 2C + 2U numbers through 2023 exploration program.
MST val is currently at $0.37 with (a) gas at $7/Gj, (b) low TMK lookthrough val on Gurvantes, and (c) no condensate revenue.
If MST valued Gurvantes on current 2C alone rather than TMK lookthrough it would already be over $0.60/share
no miracles needed IMO.
Prime catalysts:- (A) gas into the pipeline/$$$ into the bank account at Walyering - 4 weeks? (B) gas to surface at Lucky Fox - 10 weeks?