Sentry Petroleum Ltd (SPLM)

[5256698lsa]

Bow Energy was sold this week for A$535 million to Arrow. Bow has permits very near Sentry's. I'd consider that price fairly cheap considering that Bow is rapidly certifying their reserves to a significant level. To my knowledge Arrow was the only bidder for Bow. Given the low price Bow sold for & the lack of information on Sentry's 2 wells it is not surprising that the stock price is suffering. Bow was valued at 16 cents a gigajoule of proven, probable and possible reserves, compared with an average of about 50 cents a gigajoule for Australian coal-seam gas transactions over the past two years.