palta delays, page-2

Hmmm
sure is quite round here, i dont get it
where are the CMT shareholders ?

Company only listed in Jan, the Palta well is the 1st bit of real action the Co has seen outside of its New Guinea assets.
If Palta comes good then CMT and its j/v partners are going to be in the drivers seat. I cant see them wanting to drill the permit themselves, theres just too much coin involved and too much risk.
IMO they are far more likely to do a deal with Shell/Mitsubishi and walk away with a shed load of cash.
WHN MC = $37m
STX MC = $73m
CMT MC = $11m (includes approx $5m cash)
strikes me that CMT stands to benefit the most from drilling success at Palta.
Like its j/v partners CMT isnt a 1 trick pony, there are the NG assets and they are drilling Chamois next month -10mmbbls.