RE: Final approvalGreat to see this news finally.
It'll be real interesting to see if they can stick to this ambitious schedule to close on the deal by next week. I believe natgas prices may be close to bottoming now that we are entering a hot spell in the US Northeast and with hurricane season upon us. Now that the price has stayed under the $3 mark there is probably a lot of fuel switching going on, where industrial users will now use natgas instead of fuel oil.
With the stock sticking over the $2 mark BPR would be well advised to do a quick little financing right now, so that they can keep the pace going without having to risk diluting out shareholders substantially if natgas prices do not recover in the next few months. I believe the natgas prices will recover but you never can tell and why bet the farm on that.
If they can get a rig on the field by October then they could be producing gas by the winter.
This is getting interesting again folks.