500K to buy at 13c at mo; not much on sell until 14c.
Could be a number of things; They recently pulled some coal cores out of one of the areas they and GDF (or with total?) are looking into. We expect to be made aware of the findings this year, but obviously some people out there will know a lot earlier what cores are looking like.
Also the 3D mapping of the area's with total will give more info on what we are dealing with. Same story as above, we shareholders the last to know.
AIM listing; Still not clear how they are going to offer shares for sale over their without cap raising. A market maker might need to buy up a buffer to provide liquidity to the AIM? This buy up might be happening now?
NHC's other big shale gas play, WCL, has had a 40c offer to take over (recently trading at 15c, cap raised at 18c about when I was getting into it); If NHC lose control of WCL (they own around 18%) then they will be under invested in unco nat gas in general and could well want a bigger peice of DTE. The have over a billion in cash already, that before considering the proceeds from any sale of WCL.
Positive report out on csg/shale out recently also, strong growth predicted, and positives of the low carbon footprint of nat gas from csg highlighted as reason for strong growth in sector globally over next decade.
All these things could be reasons for a re-rating of dte which has been rediculously undervalued for some time now.
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STRATEGIC ENERGY RESOURCES LIMITED
David DeTata, Managing Director
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