Agree entirely, massively under valued before the upgrade, post upgrade expletive sale of the century cheap 1.17/boe. Before the upgrade, I thought like angrybear we could get taken out by a lowballed takeover by Santos as low as 40c if they struck at the CR. Now with 564PJ in proven reserves 998PJ and the potential to farm from Mira back to original Mahalo wells and southerly from Mira with more horizontal wells if a TakeOver doesnt come soon and the company can get to production we will get top dollar, like many others before us.
I think the SP lag is associated with the past frustration of lost years for Comet with Santos lying all over this field as operator. Big companies like Santos just dont execute on value creation. Look at the value added in the last ten months by the small focused team at Comet as the field operator. I cant wait to see what they can get done in the next six months by the comet team and the comet plus ex-beach team.
Short term value anomolies do happen in the small cap market but they rarely last long. GLTA
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