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re: Ann: Update Proposed Backreef-1 Productio... Very positive...

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  1. cch
    134 Posts.
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    16/09/11
    15:31
    Post #: 8970895
    re: Ann: Update Proposed Backreef-1 Productio... Very positive announcement:-

    - conditional MOU for rig signed, rig expected to be at site mid-october
    - work program lodged with DMP
    - possible farmout, execute confidentiality agreement & within 14 days will receive formal offer.
    - it is disappointed to know that SPP not fully subscribed, if farmout secure then hope additional fund available & blessing in disguised as less dilution of the shares. In future can have another SPP but higher price?more money to company.

    Today, this might not trigger the booster rocket yet, but watch out for days to come
    OBL Price at posting: 2.9¢ Sentiment: Buy Disclosure: Held
    Likes Created with Sketch. 6  Upvote
    lightbulb Created with Sketch.  Great analysis
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