Suggest you do a careful comparison between the Equity Raising presentation released as an announcement on 10Aug2017 and the latest one per this thread, as language is starting to change.
Slide 17 of 10Aug2017: "If the prognosis is confirmed by drilling, 377.7 PJ (when combined with the existing 125.9PJ (ie. 3 x 125.9)) would represent tripling of potential reserves in time to have delivery coincide with the NGP becoming operational."
Slide 7 of today's announcement omits the words "in time to have delivery coincide with the NGP becoming operational." and on Slide 5 notes an "Aim to triple Amadeus Reserves over the next 2 to 5 years if successful - subject to financing"
I am not being overly negative here, just trying to flush out the truth. The Rights Issue which many of us subscribed to was going to use the $25m raised for a 4 well programme to triple reserves in 2018. One well drilling has now been dropped (WM25), which appears to have negligible impact, however while Ooriminna still appears on Slide 7 contributing to a tripling, Slide 5 no longer indicates it in the immediate drilling programme.
Am looking forward to the drilling beginning at WM26 shortly, and the Palm Valley results soon theerafter. I would like confirmation however if Ooraminna is still in the 2018 drilling programme thats all.
CTP Price at posting:
12.5¢ Sentiment: Buy Disclosure: Held
