Google that and SPO blocking the attempt.,.. @$16 the Dardens saw the future...... Are they still trying to force it before showing their Permian cards?
Private... un registered to one individual that cannot be sold, otherwise must be registered and no Bond arbitrage involved.....just guaranteed the door will be open in 2018....
7,500 acres might sell for enough to fully develop the 60,000 acres with ENI. At least, a few hundred million would get 35 wells going. IP rates on the early May drill hole should be coming in soon. SPUD on two other holes a month ago.... long NG, Oil, and clean coal......short anything related to the Middle East.
4-5 horizontal wells completed by 3rd qtr could put a huge dollar figure on those assetts. Oil surging over $110/barrel as the Middle East rebels continue their quarrels that will go on forever. US is headed toward energy independence....long NG, Oil, and US coal assets with carbon capture technology.
1) WLT can mine Met cheaper than ANR can mine thermal at $61 in their Alabama mines
2) WLT will be cash flow positive until next year by idling the Canadian mines
3) ANR thermal will get hit by OBAMA
4) ANR contracted all PRB, CAPP, and Met at major losses until next year
5) ANR will eat through their $1B before WLT even touches their $450M
6) Met can turn on dime, thermal is saturated more
7) WLT ha no exposure to thermal.
Stupidest thing BHP ever did ...over produced iron ore and loosing money and now over producing Met coal and losing BIG money! Make the announcement and cut the supply 1/4....and make a fortune on the 75% left.....your call BHP....make money or lose money....lets go!
Your not going to get one. If you do I'll leave the WLT board forever. If not then you leave the board and go elsewhere.