While I see the finance costs as being on the high side at $3m EV post raise the overall deal looks very good. The assets being acquired have a rapid pathway to modest production and in today’s oil environment a high probability of significant developments.
Have taken a starter position and will add as I see a competent team build to take this to production.
The link below paints a pretty good picture of what’s potentially on offer.
https://www.asx.com.au/asxpdf/20120621/pdf/426ymqf0fcn9vz.pdf
Gas prices have doubled since the field was put on care and maintenance
Oil prices in AUD terms are back to pre crash levels
The field development costs have halved
If there’s a time when this project makes sense it’s now
While I see the finance costs as being on the high side at $3m...
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