I agree and it would be VERY cheap! The current share price is covered by the cash, and even at 5-10 cents per GJ for the 244 PJ of CR they would only have to cough up a relatively small amount. And what would that gas be worth as feed gas for an LNG prject ... over $6.00 per GJ I would think. That's a 60 fold margin!
Then again they can control OIP's gas without a takeover and they will get over 80% of that margin anyway (they have around 77% equity in the CSG rights and own 22% of OIP).
H
OIP Price at posting:
4.0¢ Sentiment: LT Buy Disclosure: Held
