Quote from the chairman's address only 3 weeks after announcement of BP acquisition.
"We continue to hold discussions with potential farmin partners in relation to SM 6 and SM 71 as well as Bivouac Peak. We are very hopeful that an appropriate funding structure can be put in place very soon, to facilitate drilling during the first quarter of 2016."
Management of BYE really do rate the prospect of BP
"
Byron Energy Limited (“Byron or the Company”) (ASX:BYE) is pleased to announce the proposed issue of new unlisted options to:-
Mr William (“Bill”) Sack, Executive Director of the Company – 1.7 million options. The options are being issued in recognition of Bill’s efforts in relation to Byron’s successful acquisition of the highly prospective Bivouac Peak leases, as previously announced, and of his knowledge and expertise, both technical and commercial, of the transition zone, the area comprising the northernmost shallow waters of the Federal Gulf Of Mexico Shelf, Louisiana State Waters, and onshore coastal Louisiana (“the Transition Zone”). Byron’s exposure to the Transition Zone, starting with Bivouac Peak, has the potential to add substantially to shareholder value."
This came only days before the TH announcement.
BYE Price at posting:
15.0¢ Sentiment: Buy Disclosure: Held
