re price26 Feb 2006 13:34
The Goverment issueing the licence wants the field developed and all chaco has to do is meet the goverments requirements to get the field. As they have already recived 2 licences this should not be a problem. This field will put the company on a secure futing to develop its futher 3 fields in the longer term and more licenses may be aquired as they become available.
The market does not like risk and so will not put seriuos money in as if on the unlikley event that they dont get the license I expect a price of 2p. They can join in after the announcement and make the profit there job requires.
It will take time for the full revaluation to come, I boldly predict over £1 before april, and over £2 within a year. Just my opinion