They may be able to obtain an unsecured facility, but an RBL is a little way off as they have not booked any 2P reserves as yet.
If they can get a debt facility (unsecured) then this will be good, but I suspect they will do a capital raising to achieve this. I expect something like $20m they will raise, but this depends on whether or not there will be a quick follow up on HW if HW-3 is successful, or whether they move straight to development.
JKA Price at posting:
10.2¢ Sentiment: Buy Disclosure: Held
