Thanks Jim for the report. One hopes joaquim is wrong but the proof is what they do, and (no matter how loquatious Joe Salamon is) they need to come out with some truly prospective deals rather than a line about we have cash (which is being eaten into)and that people will come to them with great deals. The long-term conservation of cash is not the name of the game for junior oilers in a raiply increasing oil-price world - they need to secure resources and/or have a drilling programme in mind. Being based in Perth they could do a lot worse than farm-in to the Carnarvon or, even better, the on-shore Canning which is looking a lot better these days.
EBR Price at posting:
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