CMT stand and deliver, page-29

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bitzer

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29/10/14

10:09

Post #: 14198636
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Originally posted by rizzla ↑

seems odd that they would give real dollars today - and 1.7M is a decent fraction of their cash reserve - in order to reduce a small amount of a possible future liability. Not something i'd do. But these guys know a lot more about the business than I, so for now, i still trust them. I mean, you wouldn't do this if you weren't confident!!

Interesting that transactions are still occurring at that baseline valuation of $1M per % point (recall the 10M KPL shares at 50c for 5%, implying the same value). Also intersting that they would do this now - suggests a deal is close. Otherwise, you'd definitely keep your cash.

pretty jealous of that 35k, Sam

Perhaps they are seeing that there isn't enough to aggregate in the west, and are now vying for a tie-in to a Gulf LNG project? 437 was the only decent block. The others might get some royalty for any pipeline or something, or maybe a big farmout for a carry forward. But really, what i'm reading is that they don't believe in the western gas project. Have a look at the recent OSH presentation - at the back are some nice schematics of PNG LNG and potential Elk/Antelope projects. Don't forget OSH's Flinders asset sits directly north of Pandora...

I think i'll give these guys a call when i get a chance. For some reason i feel confident. But i don't have much feeling left for my portfolio after the last couple of weeks!

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Rizzla
I too am curious about the decision to make a payment to IES at this time. I am confident that management have their reasons. I have fired off an email today seeking a chat with Andrew Dimsey regarding recent developments. Have you managed to contact them yet ?

BDM Price at posting: 9.0¢ Sentiment: Buy Disclosure: Held
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CMT stand and deliver, page-29

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CMT stand and deliver, page-29

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