Didn't get round to reading the Fin Review on Thursday but still had it lying around, picked it up this morning and found an article on Austex in Street Talk.
Some of the more important points
- apparently Freestyle looked at around 400 oil and gas companies over 16 months before committing to Austex (I think that in itself says a lot)
- apparently we have already rejected several offers for farmins from neighbours
- PV10 on proven reserves of $217 million (obviously a lot more now), yet market cap of only $130 million with $13 million in cash
- looking to drill 50 wells this year
- no need for extra funding (I think they also mentioned this in the presentation, therefore cap raise probably only needed for a major purchase, if at all)
- were canvassing investor queries in a 2 day roadshow in Melbourne and Sydney on Thursday and Friday (so, as long as the market holds up we could be in for an interesting week).
Financial Review article
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