I also thiink other projects will emerge later this year, after next drill results and EHX having acquired 25% La Victoria. Based on past performance, they may acquire further assets without needing any CR in 2018/2019 if history is any guide.
A few years back (as Cott Oil & Gas) they acquired, for no outlay, 45% of a 1tcf gasfield offshore PNG and at same time transferred 5% to Kina Petroleum (KPL) in exchange for 10 million Kina shares which they later sold for $3.3 million.
This is the same asset (40% of Pandora) that they sold to Twinza for $8 million in 2015 of which Cott retained approx $5 million, which is now being invested into the JV with Eloro.
It's the ability to execute deals like this that will see this company expand and succeed IMO.
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BDM Price at posting:
12.0¢ Sentiment: Buy Disclosure: Held
