"The announcement in October 2015 of a Letter of Intent to acquire ready to develop coal bed methane project areas in the Hangcheng area was the first of these initiatives. The acreage involved is reasonably well understood in terms of the gas content and recovery rates. Consequently, when an agreement is executed, it is expected that Triple will be able to move quickly to monetise these project areas and emerge as a gas production company in China.
It is Triple’s objective to finalise this transaction as soon as possible. Internal modelling of these assets based on current assumptions demonstrates substantial potential value-add for Triple shareholders."
Sounds positive and I like the language... Not if but when.
TNP Price at posting:
1.2¢ Sentiment: Buy Disclosure: Held
