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MITRA ENERGY INC V.MTE

"Mitra Energy Inc is engaged in the exploration and development of oil and gas resources in Southeast Asia. The Company has a portfolio of exploration assets and discoveries within the Philippines, Vietnam and Indonesia."


TSXV:MTE - Post by User

Comment by SlowLorison Mar 23, 2016 7:46am
58 Views
Post# 24691317

RE:Accumulation

RE:AccumulationI would have liked to be accumulating, because at first look the valuation seemed low, but I have concerns that Shell will not progress the LNG project (at least for many years) - see article -, while in Vietnam the committment well will wipe out the cash and they have no funds to develop. I can't see any lender stepping up without at least some equity funding, while the management are also talking about buying some production - presumably with equity?  I think the risk of dilution is too high for the moment.
If you have a different opinion I would be glad to hear it.....
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