I can you tell Bubby, there is a very real chance we get snapped up before we get to drilling, that is a big part of the strategy by the way. If we have to go to drilling we will, but note all the permits are now in place for an acquirer to go straight to execution/drilling ie: CE1 has been quietly adding value to the play constantly through the Canadian winter, which the market here in Aus has totally ignored, but I doubt the north American market is not noticing.
Also remember we are exposed to the Oil price (on fire ) not the Canadian gas price (weak).
Yes, I am also concerned about the Euroz overhang, but my information is it was very over subscribed. yes Whiddon/Stein didn't get involved, but they are already well and truly on board. Let's see if it can get a foothold above 5.5 next week.
All in all in my view this remains a very interesting proposition given you can actually see the value, when you really can't in most vehicles at this end of the market. It might not be a 10 bagger, but a three bagger is entirely possible without any wishful thinking.
Add to My Watchlist
What is My Watchlist?
