Hi SS Good to see you about , I agree with your thoughts on SCU and posted as much yesterday, I'm not sure how much effect it will have on the shareprice it will become obvious early on if it won't be tested. Given the limited storage space on the JUR they likely would have only performed a DST much the same as COSMO which had no flowrates and which is what shareholders like to hear. It already has P1 reserves so would be more of a confirmation.
What I would like to see, if they do run out of time ,is come back next season and do a full test which may include the use of a barge. It would certainly be good if they can get into the oil zones before the season ends just to get an indication.
In regards to EOS I'm not sure when the money was due in escrow the terms are out there somewhere but there are a couple of points. CB commented at the conference call that SCU is proceeding under the agreement , also there was no update on the COSMO well in regards to funds being recieved because like SCU it is already known about and hence not material. If the money has not been received it would be material and require an update.
Cheers Whisky
BCC Price at posting:
6.8¢ Sentiment: Buy Disclosure: Held
