RE:AGM Results...interesting new Corporate PresentationNice to get those options out of the way.
We have stated here frequently that we would see a new corporate presentation, only when new developments were imminient that fixed the strategic direction in which management intend to take the company.
That now seems to be so.
It looks like it will be a 3 pronged approach.
1.....JV the development of the substantial offshore FV gas reservoir
2....Carry out its own E & D of its other properties
3...concentrate on expanding its downstream assets. Whether this means expanding the current gas processing plant or acquiring other downstream assets ( eg pipelines ) is not clear
Cash flows for the second half of the year will be in the $2.5 to $3 million range.
I dont think that adequate for for all three strategic initiatives.
So, we might see an equity raise over the next while.
That might bring us coverrage, in much the same way that RJ covered us 2-3 years ago.
I have great confidence that we should exit 2014 above $1..
Note also that our 2P NPV is $3.33 per share.
We are very undervalued.