re: Ann: Sugarloaf Production and Operations ...
The AUT price rise seems to be a vote of confidence in the fundamentals.
It's time that AWE stopped treating us as children pretending that the only thing that we could read and understand on the Target Statement was "61 cents".
We now have confirmation of post farm-out commitment to further drilling on S/L and no period of navel gazing. Now we can see why ADI needed the extra capital.
The longer that they string it out, the more expensive that it will become for AWE.
Rancho is on trend with Morgan and Kowalik is between them. That doesn't guarantee anything and we will know soon enough. But we saw what Kowalik was capable of before it got messed up - and that was just the final stage, 1,800 ft from memory, and it was unstimulated.
Have a good weekend.
ADI Price at posting:
41.0¢ Sentiment: Hold Disclosure: Held
