Old Man, Good morning.The deal is that they will pay for the rig...

Old Man,

Good morning.

The deal is that they will pay for the rig by way of oil revenue, dispensing with the need for a capital raising.

I don't know if you read their figures or not.

Production prior to closure of the Langsa well was in excess of 5 500 BOPD.

This will increase to over 9 000 BOPD by years end.

Even based on the minimum flow rate of 5 000 BOPD,
multiplied by oil at say $44/barrel(AUS), that equates to revenue of $1 500 000 per week. That works out at $75 000 000 per year.

I am sure there are ample funds to pay for the rig from these modest revenues.

Check it out for yourself

Cheers Brewster