My weekend research puts a fugure in the range of $12-15m on Bula and another $1.5-2m or on the rig.
Lets say $15m all up.
That would allow for a .005c "special dividend"...and still leave LIO viable, with more than $6m in the kitty to pay for Oseil, Cooper Basin and anything else they might care to look at!
In another 3 months, they will be back up to about 450 bbls/d production thanks to Oseil...so not a lot lost in my opinion.
Yep, I think off-loading Bula is a good move...but only for the right $$$ of course.
Cheers!
LIO Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
