KDoc, I'd been around that long too. I'm giving this "new" plan until December 2017 to see how they implement it. I'm certain we will see enough by then to make more definitive decisions. Until then, I'm not considering "conspiracies" and "past performance" just evidence based info that will, or won't, stand the test of those 12 months. This is not as "blue sky" as their previous performances and I can see the "logic" behind this plan, previous efforts were all hope and see. This is much more modest, realistic and possibly achievable. One factor re the latest acquisition is "cash flow" and with the size of the prospective "plan" IMO, they could want to expedite development which would require funding which piddly interim CRs will not satisfy.
If they are really fair dinkum about those potential 430 wells, I'm sure that they would be expecting their management team to be their only source of labour and to progress at around 3 wells per year!!!!
SURELY not!!
So, it would be a nice little item to include in funding applications some nice long term cash flows. This one's got more to it than a simplistic and populist "knock".
AKK Price at posting:
0.6¢ Sentiment: Buy Disclosure: Held
