for sure. the asset value is there. transactions have generally been around $1M per % point. its about whether CMT can hang on and realise the value before bleeding their funds dry. they have done the right thing to shed assets & CEO. Thankfully they won't need to raise a lot. i for one will put in if I can see a path to commerciality, even if it just means flogging it. even if they got $40-50M for it, they'd still realise value after paying out IES. thing is, there's lots of good assets out there that are competing. i think another avenue out would be for the Japanese, Horizon or Repsol to swallow CMT at decent price. Your account of the geology is not right, but the resource and flow rates are there. its best to think about the asset as 1Tcf. There's not much exploration upside. well, no-one is going to spend the money looking for it anyway.
BDM Price at posting:
2.5¢ Sentiment: Buy Disclosure: Held
