increasing the value of oip

The incoming directors indicated to ESG that they would undertake a strategic review to enhance the value of OIP. Seems to me that one thing they could do is promote the value of its CSG. ESG talked this up in its letter to OIP shareholders on 17 May this:

"ESG?s assessment of the Energetica proposal based on publically available information is that shareholders are being asked to expend a large portion of Orion?s $6 million cash and high quality, certified resources (recoverable contingent resource of 244 PJ and certified recoverable prospective resource of 1079 PJ), earned through expenditure of hard dollars. In the last three years over $5 million has been spent on exploration of Orion?s joint venture tenements PELs 6, 427 and 428. More upside is expected in these tenements, and confidence of this further potential stems from the demonstrated exploration activity to date."

Its interesting that not even the announcement of the initial resource certification in the OIP leases talked about "high quality resources" .. hmmm.

So "high quality" certified resources and further upside expected. Also DC said in the last OB that there were opportunities to commercialise OIP's gas independently of the NCSP but that there were obvious synergies for it being commercialised jointly with ESG's project.

OIP has 244 PJ of "high quality" resources and potentially a route to commercialisation and yet the market is giving ZERO value to these resources as the current share price only reflects the cash. So the new board should be talking up its CSG "value". But will it I wonder? Or do ESG still want to acquire the remainder of the CSG rights as cheaply as possible?

H