"CMT need a takeover or a shift in industry attitude toward the risks of FLNG / H2S"
Some truth in that statement imo particularly with regard to FLNG. I think that the H2S factor is minimal and from a technical perspective not an issue (nothing an Amine tower cannot fix @ 0.6%).
IMO there needs to be a shake up in PNG and I believe we are seeing the start of that. ROC/HZN merger failed but it demonstrates a strategic appetite for consolidation. The emergence of PIE holdings on the KPL register is an interesting development given CMT's close ties with KPL, between them they hold 65% of Pandora.
I think the carve up of Talismans PNG assets will be a significant catalyst
BDM Price at posting:
9.0¢ Sentiment: Buy Disclosure: Held
