@silvahman You're still showing as not held !! I should be that...

@silvahman

You're still showing as not held !!

I should be that as well, but still have a tiny amount left from before, when the last 2 wells failed to find oil.

No the royalty was never a good move, never made sense to me at all other than to keep the directors fees rolling in. All the shareholders back then knew that was what it was for & didn't like it. To lose A$3M + interest on it straight away is galling.

I'm debating whether it would be worth a punt on the drilling ................... still no sign that it is going to be 2 wells and thus get at least a double chance of a success.

I also think a lot of stock will come online as soon as it moves, people desperate to get out of this one way ticket.

Then what? how are they going to pay back the loan?

Either issue more shares which will be so dilutive, or sell part of the 10% interest which then again defeats the purpose of investing in it.

Need to really weigh up the risk/reward ratio very closely that's for sure, because drilling failure is going to put them in an impossible situation & the lender might force early repayment.

LOTM