Tristone CapitalThis is a very positive step. Mooncor has no interest in selling out cheap. If the right price is offered ok otherwise the objective is to find a JV partner to pay for the development of the gas field and retain a large percentage interest at no farther cost.
What is the right selling price? After the updated resource report MOO should show a resource of about 2.4 Trillion cubic feet. At only 15 cents/ 1000 the value of a transaction would be $360 million or about $2.80 per share. If a JV partner is found and the production levels can be established values would rise but the ownership interest would be reduced. The value should be about the same? That is why MOO would sell now but this would be extremely unlikely.
When the BEO report is released which should be very soon, Tristone will have a hard data report to sell this stock. They are exclusively an institutional house. Once they have hard data and complete a recommendation to buy watch this go!
Expect the BOE report next week.