Its game on in the Perth Basin,
have a look at the strike announcement from yesterday, they are prepared to fund 11 million for 50% of a drill, but this well has nowhere near the same leverage of Ocean Hill.
Just to put in context, 11 million is nearly twice the UIL market cap.
This last capital raise i heard was well bid, they could have taken overs but chose not to, couple this with constant director buying and i think we can see some kind of farm in announced to get Ocean Hill drilled.
UIL Price at posting:
3.7¢ Sentiment: Buy Disclosure: Held
