what a flight that was!get off plane and see this, im beyound pissed off! i was informed that the deal was already drawn up and had to go over a few things for approval, not exxon pulling out totally. i apoligize to anyone who bought in on my buy recommendation, i guess we cant win them all, been a great year overall i must say! First id like to say this was a bit of a panic selloff, yes Exxon left the cbm market, BUT they already are negoitating a deal with a local company, which in turn may prove to be better for them down road. Looks like Tcf is getting the 30million they wanted so they can move projects forward/ sign NEW deals (like their in process of doing now). Looks like exxon out, and another JV begins. Again not that bad to go to .045 a share. furthermore Financing has always been a issue with tcf, but shouldnt be anymore, NO INSIDER sells today(good sign) and they are in last private placement showing they beleive in company. this will work out fine yet imo. There was some Great news today, other then 30 million loan and new JV, they are production testing a well as we speak! Last time i checked , you usually dont production test a dud or air lol, they obviously got some good gas here and i along with many others are keen on seeing these results, if Tcf meets or exceeds expectations with gas rates, this will move up on that alone, maybe we can see decent proudction news, and prove our cubic feet in place, as that would be perfect for any future deals!
all in all yes today was debbie downer, but i see 3 good things here $30 mill, new JV, and lastly is production testing underway! Also lets not forget they got other deals in place to move the gas.
On the commercial side, the Company has been working towards establishing gas offtake agreements with multinational companies. We signed an agreement with Linde Group (market capitalization EUR27 billion) to jointly conduct a CBM-to-LNG supply study of up to 50 MMcf/d in the Barito Basin. We also signed a CBM-to-Power agreement for up to 5 million ft
3/day with Navigat Energy, a leading Southeast Asia power project developer financed by General Electric and Standard Chartered bank. The quality of our production and offtake partners significantly enhances the Company's ability to project finance future development and generate significant cash flow.
Read more at
https://www.stockhouse.com/news/press-releases/2013/12/04/cbm-asia-provides-review-of-operations-and-financing-update#rHtRYzYfKvKzYZxA.99
i had bids in from few days ago looks like i got some more cheap shares, and i will be buying tommo am as this imo is grossly undervaled, and FAR FROM OVER! good luck TCF
*sorry for spelling iphone and no time to proof read