AOK 0.00% 0.3¢ australian oil company limited.

Ann: AusTex Oil Announces $3.2m Placement to Inve, page-7

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  1. 261 Posts.
    re: Ann: AusTex Oil Announces $3.2m Placement... Notice that the capital raising is staggered ?

    Notice that there is no mention of adding to their land portfolio ?

    Notice that the way the investors have staggered it, it can only be used to drill oil wells ?

    This guy Hung is a chartered accountant. I've worked with them. He is not going to throw good money after bad.

    He knows that with 2 or 3 more wells, production gets to 350-400 boed at which level their exploration program of $4M per annum becomes self funding. Granted, not enough to fund horizontals.

    But if they complete the 8 proposed wells at say 70 boed plus the 200 they have now, I have them on $8-$9M per annum.

    What does your spreadsheet say ?

    Or haven't you modelled it ?

    I'll bet Hung has done his homework.


 
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