Hi all,
while I am slumbering away, I could not help but check in on the other parties in the Canning basin.
Low and behold Finder Exploration.... changed its name to Finger Energy, but then split off their Canning assets into 'Theia Energy' with management being Finder staff.
I don't really understand their full rationale, but... perhaps its to try and partition the company up, garner funding from difference sources, although as I understand it, FinderEx has plenty of cash after their sale of their offshore asset (which CVN still holds).
Anyway, their website is bare bones -
Theia EnergyBut they are 100% focused on the Canning and the Goldwyer play.
on the DMP, FinderExloration was the last entity to update the details for their drilling of the Helios-1 vertical well (which would be followed by Helios-1 Horizontal, to be then fully stimulated and tested). Theia professes that this will be occurring in 2019, but I won't be holding my breath.
If nothing else, it would be great to see a company navigate the new legislation set by the 13th scientific inquiry into well stimulation.
Still, Finder/Theia clearly still believe in the acreage and its potential.
Just to note, this is not the only newish.. player in the Canning Basin. There is also hopefully going to be some further drilling in the south by:
PMALFunnily enough, they already had planned to be drilling using the techniques that BRU has now decided upon. Hopefully that is a further sign that past issues with drilling outcomes will be reduced.
@CEOChair - I would love to see a farmout of the rest of BRUs Laurel play, but... I am just not sure if it will happen whilst everything is so quiet, including MItsubishi's inaction etc. Twiggy's company is meeting all of its work requirements for its acreage, which is basically just flying a little plan across 1/3 of the Canning basin, but I guess its better than nothing.
REY is doing.... well they are shuffling a lot of paper! Who knows, maybe their farmin partner will miraculously raise $10m.
Yeah, I am still quite jaded by BRU and all of the Canning Basin, so much promise and even results have proven good, yet little traction has actually occurred.
I am wandering now, so signing off.
