Cott Oil and Gas Ltd (CMT) starts trading tomorrow (4 January 2013). Mkt cap of about $13m with about $7m in the bank. Carnarvon and Papua New Guinea assets. Exposure to the massive Palta prospect which is currently being drilled by Shell/Mitsubishi at cost of circa $100m. Rig currently on site. Support vessels been back and forth from Broome (7 day round trip) where Shell gearing up for Prelude produciton well. Results expected very shortly. Equivalent interest as WHL.
Other assets include large PNG onshore acreage, expect newsflow to be pretty regular for next couple of months.
cmt (oil & gas) lists tomorrow, palta exposure
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