Fiar comments and by all means disagree. On reflection I see your point. I might just add that OIP IS quite vulnerable and quite attractive simply because of the address of its leases and its low MC. I reckon that ESG should just do a $50m placement and buy it back at 40 cents .. after all they floated it off in the first place simply because they did not have the cash to do the drilling there. Then again they have most of the CSG rights already via their farm-ins.
Despite ESG having 23%, OIP could be taken ouit by someone else like STO or AOE or BG. The only thing stopping them is the fcat that very little CSG drilling has so far occurred.
H
OIP Price at posting:
16.0¢ Sentiment: LT Buy Disclosure: Held
