RE:RE:LNG just announced introduction of gas. Where are we at with. Coastal gas line fill? Is it full already or partially full?
Looking at how this is trading do investors here think we are better off developing the Montney property or developing it enough to get a decent price on a sale?
I like the 3.3x recycle rate, the low cost incremental acreage acquisitions, extensive inventory and clearly they know to produce it. Management has done a brilliant job assembling the asset for peanuts.
But there is currently zero recognition in the stock price and the sales price with 3-4 wells drilled should be well above 120 million. They mentioned considering a sale of the acreage as an option at the Peters conference last year.
This team could do a lot with an extra 100 million. Or do we ride it out, wait for the transformation of the company to be finished and ride the higher cash flow when LNG Canada is fully operational?
Opinion?