i believe the company is looking at farming out for a partner to drill a well and shoot seismic to the south. A good deal to also recoup some back costs from the seismic already shot.
so
- drill a well (USD$25m)
- seismic to south(USD$15m)
- cash of USD 7-12m
probably have to farm out a good % of the permit and operator ship for that.
Clearly the market is not pricing this in- because it values their stake at around 60m-80m AUD- or 25c-35c per share.
drill and a hit and $1+++
i believe the company is looking at farming out for a partner to...
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9.1¢ |
Change
-0.007(7.14%) |
Mkt cap ! $23.20M | |||
| Open | High | Low | Value | Volume |
| 9.5¢ | 9.5¢ | 9.1¢ | $22.25K | 235.3K |
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| No. | Vol. | Price($) |
|---|---|---|
| 2 | 109999 | 9.1¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 9.9¢ | 387595 | 2 |
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| Last trade - 16.10pm 27/11/2024 (20 minute delay) ? |
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