you forget that 50 years ago there was no directional drilling available not all the easy gas was developed only the easily accessable gas was produced. Problem is that the terrai is still difficult and it will cost a lot more to develop than many of the other potential ields out there.
I too am very wary of this now I think we will sell at distressed price simply because we have no ammo on our side to bargin with. Our debt is due our field has troubles. Instead of people flocking tobuy us we are marketing to them. All this balony going round about GS been the who's who etc is rubbish in all the large m and as lately not many if any are negotiated by a third party. they are sorted out by the board, i mean why did we bring all these guys on board with all the supposedindustry experience?
We bought GS on board because the board could not or would not do it themselves. If we do get bought before the firesale I think it would be for a figure much much lower than whats been touted here maybe 50c if we are lucky.
I mean we all like to sound like a bunch of experts but there are many people out their who analyse for their job and there is no serious money entering in or any ramp in SP?
the only reason i may buy back in is because i think that the assets would still cover most of the sp if things do turn nasty and the only upside i see is maybe maybe 100% gain from here.
MAE Price at posting:
31.5¢ Sentiment: Hold Disclosure: Not Held
