The moratorium clearly states until 23rd December 2017 "the consortium will conduct specialised geophysical studies in the area surrounding the Hawkeye Prospect which encountered gas shows when it was drilled last year". From there, there is an option to proceed or exit hence why Bandy has clearly stated that "The Company looks forward to providing the market with more information on these potential opportunities as they develop." Essentially a cheap ride with the consortium at Hawkeye and then a clear option for potential opportunities that may come through any day now...
This is why investors are backing their trucks up on stressed sellers.
Will be interesting to see if Seventy Three Pty Ltd or the board are continuing to increase their major holdings at this sweet price which essentially is a ~50% discount SP to cash value.
RMP Price at posting:
2.0¢ Sentiment: Buy Disclosure: Held
