Why should there be a low ball offer?
Lets see:
$27M cash in the bank
Gas sales about to triple in a matter of weeks
$20M joint venture fully funded by IPL to find new gas in prospective area
Well to be drilled and funded by Santos in 2019
Managable debt now that will be refinanced by better, cheaper and less restrictive debt once new sales begin
Oil available at Mereenie & Surprise
Possessing lots of acreage for farm outs or 100% development
It makes no sense that a low ball offer by anyone would be embraced by shareholders.
In fact, as some of the above start to produce cash CTP may well be seen as undervalued
and a bidding war between several suitors could well occur.
So I have 1M of these suckers and I'm sitting on them till value appears
Re centralPetroleum, page-13
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