RE: drilling in June Dear Capt Hook
I have not read the 15 million is in the bank - what I read is that they are having a private placement for 15 million. In these markets and the perpetual cynicism of the junior resource investor here in Canada they may have to work on getting in the money.
CBM Asia shares have performed the best of the CBM players worldwide by a massive margin - the second place company is a -10% the average -25-30% yoy. Despite the stock being up yoy and the company asset portfolio hugely improved, a 1 tcf of gas net to the company and Exxon handing the managment control over the their CBM assets in Indonesia, investors continue to badger management for poor performance.
20-1 shot. My calcution is that there is a 25-30 x fully diluted upside on this stock based on a 50% chance of success. Any other stocks out there with that risk reward. Only the brave will know.
Happy sailing