Well the quarterly came out with the cash balance increasing further which s good to see to around ~A$34 million galoc continuing to perform well but on decline now producing ~7000 bopd (net 1300). So they are drilling Duhat-1 with result expected in around 3 weeks and BHP decision must happen in the next 4 odd weeks unless they are granted some sort of extension. Plenty to be excited about if BHP opt in the SP should fly and if they dont it would be a great opportunity to pick shares up around the 5-6 cent mark one would think.
Time is a great teacher, but unfortunately it kills all its pupils
Well the quarterly came out with the cash balance increasing further which s good to see to around ~A$34 million galoc continuing to perform well but on decline now producing ~7000 bopd (net 1300). So they are drilling Duhat-1 with result expected in around 3 weeks and BHP decision must happen in the next 4 odd weeks unless they are granted some sort of extension. Plenty to be excited about if BHP opt in the SP should fly and if they dont it would be a great opportunity to pick shares up around the 5-6 cent mark one would think.
Well they must have had a real good look at the Seismic , so if it wasn't prospective they would have been out by now. If the prospect looks good they wouldn't want to lose it to another bidder if the permit lapses. They can get 80% to free carry OEL but then they take all the risk. Hard to say how this will pan out.
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