What's the deal Seems to me like we’re down to 3 options here:
- Buyout by a major in the short-term for a “low” sale price ($2-$4/share). Then they do all of the drilling and prove the value for an MRE.
- Cash injection from a VC/PE in the short-term. LME does all of the drilling and proves the value for an MRE resulting in a much higher sale price ($8-$12/share).
- We sit on our hands and wait for all of these small drill campaigns LME is doing to accumulate to an eventual MRE over the next 5-10 years while the price plateaus and we hope for an eventual sale.
In all seriousness, does anyone have any educated guesses on when the chances of #1 or #2 may happen??