We could still get an announcement anytime but remember I'm a raving lunatic! - Louise is a good prospect and if our future depended on it being a mindblower the analysis would be a little different. Imo even if it was a duster the existing wells, cashflow and future prospects support the valuations in the recent report. SP may fluctuate sure but the wells cost about $4m each and our WI say 20-30% requires around $1m each, we have at least over $2 in the bank now and adding say $300k per mth before WK and Abita contribute, Admin costs are low so most of the money goes into growth.
That said there are always risks to consider no matter how good something looks and to date one risk has been the low liquidity but imo most long-termers who have added in the last year should be green at these levels and same opportunity has been there for a while for anyone looking at the 5C's.
Cheers
GGE Price at posting:
1.5¢ Sentiment: Hold Disclosure: Held
