This is looking very interesting. Parent is a A$400m Hong Kong listed diversified gas company. We have one project where we are awaiting results of logging and analysis and perhaps a fraccing and testing program and we also have a letter of intent signed on a further project that has 9 wells on test production. It has been a very long time coming but hopefully the stars are starting to align.
Pretty tough in this sector, but that probably also means that it is not a bad time to be looking at assets. Sino Gas is more advanced. They defend a market cap of $165m (was closer to $400m). Should be some opportunities with TNP - capped at $9m.
TNP Price at posting:
0.8¢ Sentiment: None Disclosure: Held
