From the figures released, it looks like Morgan has paid back getting on half its cost.
I've had a poke at AWE re their insulting release yesterday.
I don't see where it is going to get them apart from attracting a considerable amount of contempt.
When thinking about capital requirements for drilling, thought should be given to the cash pouring in. Soon it will start hitting ADI's bank account. Sure, there are delays between production and payment. Sure, drilling cost commitments have to be paid up front . But ADI's now cashed up to bridge those gaps. If they need to raise more cash, it would be for a multi-rig ramp-up imo. By then, we'd have a far better idea of the cash dynamics.
ADI Price at posting:
41.0¢ Sentiment: Hold Disclosure: Held
