farmout, page-3

Good deal.
The implied value of the cash and carry over the two phases almost equals the current market cap, which is plainly ridiculous given they still have 60% of the project.
Looking forward to the next farm-out of the shale play, which is currently being negotiated and should also have a decent cash and carry outcome.
Which would mean the company lays off its future capital requirements for both projects, and also boosts its cash balance.
Given the bulk of the work has been done to get the heavy oil project ready, reckon the market will be surprised at how quickly they can now proceed.
The company reckons the project is worth north of US$400m as per yesterday's release.
Look forward to that being proved up in the not too distant future.