This little Oil and CSG company is up another 20% this morning pending confirmation about joint CSG drilling with ESG in NSW and its own oil drilling in PEL 6 near the Qld border. With the added bonus of $13M in the bank and v low cash burn. At the moment it is outshining its larger partner with percentage gains. It has a very rosy future ahead and may well be a takeover target with a market cap of about $25M, considering the leverage it would bring with ESG and its leases. Keep and eye on this one.
OIP Price at posting:
17.5¢ Sentiment: Buy Disclosure: Held
