RE: RE: RE: JD comments I have done all that. I have read every presentation, spoken to management, done my own research on Dart Energy, Nu Energy other companies operating in Indonesia. I have spoken with CBM experts.reviewed the energy demand and gas price structure in Indonesia and Asia. I also invest in many other oil & gas stocks in the region listed in London, Hong Kong and Australia. I think I am way ahead of you here.
The fact is Exxon does not go into a new energy source ie CBM without the prize being massive. They took the heart of Barito basin and they have asked CBM Asia to join them, If you don't believe the 15 Tcf promise then you must think managment is bsing you. Then why are you here? Do your research. The Kutai West with thin coals at 70 ft has a recoverable resouce of 3.9 Tcf from only 1 PSC - but CBM Asia has only 18%, The Exxon JV PSC have coals as thick as 400 ft. The company provides you with all the data in their presentation. They are conservative. Their data on Kutai West prior to the NSAI report called for 1.8 Tcf and then dilevered 3.9 Tcf - I like those kind of promises very very much.
I know that there is no more gas left in Asia. Where do the Chinese get the gas for their LNG plants - BC? (joke) They just bought 10 Tcf of gas from ENI in Africa for US$4.5 billion, PTT Exploration just went Africa to buy 5 Tcf of US$1.9 billion - there is no more gas left in Asia - the only new source is CBM in Indonesia. How much gas does CBM Asia pontentially have 15 Tcf - that must looking very interesting to the Chinese.
You don't understand it and the market does not understand it because the people driving this stock live here in Canada and they don't even know where Indonesia is or understand what is going on in Asia. But surprise surpise - the funds like Indus know what's going on - they bought most of the last placement - you think they are a participating in this round - i bet they are and because of guys like Mr. Flipper, Indus are going to buy more of this company on the cheap.
You have know idea how institutions invest. They are not going to buy a bunch of stock in the open market in an illquid stock like CBM Asia. There is no ballsy stuff to do in these markets. I have been investing in PPs for a long time and this market is the worst I have ever seen it. If you have cash flow and are in Alberta great - if you are an exploration company overseas its almost mission impossible.Management should never risk the welfare of the company to be ballsy - who are you some arm chair quaret back?
Management does not work for you - management with significant interest in the company work for themselves and the largest shareholders ie the funds. You are just along for the ride. So I suggest that the day they announce the pricing on this placement you pick up the phone and get some stock in the PP. That's what I am going to do.