todays half yearly shows a company just about to do the 'wil.e.coyote' moment.
noel has run out over the cliff edge into thin air,and any moment now gravity will remind him who is the boss at acceleration. the pile of cash may well last another 12 months from now,but what then?.
trouble is that when the cash drops under a million bucks,3d will become desperate. there is a stage when a company has to raise cash at any price.
if noel continues his current form,even patto's might not bail him out.
bass strait oil and gas has walked away from their bass basin leases without wasting money on them. by sticking to his knitting and tipping cash into the bass basin,when he cannot farm out west seahorse,3d oil is gambling on people doing deals on noels terms now,when those terms have never been accepted in better times.
TDO Price at posting:
7.2¢ Sentiment: None Disclosure: Held
