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One of the better research notes around.
Looks detailed, and the valuation regarding discounts with associated risks seems fair.
Now time to get the resource update followed by the strategy going forward (finance, sell of a stake) to see what the market values the company!
They better hurry if they want first gas beginning 2024 for a project that takes at least 18months.....
Who needs gas?? https://uk.finance.yahoo.com/news/world-deepest-hole-offers-inexhaustible-155013011.html
https://interestingengineering.com/largest-green-hydrogen-plant
Everything is bigger in texas!!
Even with more proven gas, the projected 40-70k mcf will not be enough (imo) to get any mayors involved. The return on the investment will be to slow or they want a large part of the pie that won't make sense for us.
Also difficult to raise more funds without mayor dilution at this share price.
There was a mention of maybe partnering in the future development with the party that signed for the off take of 40k mcf......