The Canadian energy company MCF Energy, listed on the Toronto and Frankfurt stock exchanges, intends to spin the wheel of fortune and resume gas extraction in northeastern Moravia. It has agreed to buy mining rights for three localities there and will acquire three licenses for exploration activities in neighboring areas. According to e15 information, the original owner of the rights was the Lomenská mining company of Miloš Báč, from whom the Canadian businessman Sean Pearson bought them in January. The buyer will pay through his new shares in the total today’s value of 84 million crowns and will add 31 million crowns on top of that.
The plans of MCF Energy, which was founded only the year before last and whose goal was to discover significant gas reserves in Europe, are ambitious and unexpected for many experts. Significant investments are required to start economically meaningful and sustainable mining, but the Canadian company has a market capitalization of only about one billion crowns. For comparison, the Czech semi-state group ČEZ has a market capitalization of almost half a trillion crowns.
A number of companies have already attempted significant gas extraction in northeastern Moravia, but without much success. Compared to the volumes of the main Czech player, the MND group, which extracts gas in the south-east of the Moravian region, those here were insignificant even by domestic standards. “I would be surprised if the project was more successful. But I admit I don’t know the details,” said one energy expert on condition of anonymity.
2024-02-29 18:00:00
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