re: lio enteck offer extended !!!!! Before you pre-judge the worth of Entek, go read the Independant Geologists report in the prospectus, and compare the acreage to anything else around in the Cooper.
This is acreage adjacent to Fly Lake, Tirrawarra and Toolachee.
Now, whats being looked for is not on that scale. But you'd think that some of what migrated from Tirrawarra to Fly Lake only got halfway, and so on.
Then assess their number of shares on issue, and the impact of 2 discoveries in the intial 6 well program coming in at a conservative halfway between the Low and Best figure (oil is worth A$15/mmbl, and gas is worth A$1/bcf).
Then do 1 discovery, again at between Low and Best.
Then decide if it's worth 20 cents per share.
Cynics will say that I'm saying this, because in Merlin we have a dog in this fight. But for the record, if I had cash that was not tied up in Merlin, I would be buying Entek shares.
Ian Whitchurch Accelerated Farmins Australia Prefloat Consultants to Merlin Petroleum 0421 864 278 [email protected]
This is not investment advice, and before investing in any of these stocks it is important to read and understand all documentation and seek professional advice.
LIO Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
