RE: Surprised at the lack of25 Jun 2023 12:57
HS,
"I struggle to see Char holding on to more than 20% of the licenced area and will be happy if they do as long as terms include commitment to operation date.."
Agree, however should a deal be offered for ~25% then that would be a massive win and should sign any deal off asap, 20% I would suggest like yourself more likely will be the closing deal, fully carried with small upfront and milestone payments.
Alternative is split-off gas (Lixus acreage) whilst retaining other assets and offer special dividend. Could easily sell Lixus, lock, stock and barrel 2C's for ~$5boe offering a special dividend of ~40ps whilst retaining lump sum to accelerate our focus on 'green' projects. That for me would remove an enormous amount of risk going forward and offer LTH's some instant return...... I say 'instant' return, since being a holder to a time when I still had hair !!
aimo & dyor