Whippet,All of the 17500 acres is prospective for the eagleford shale.
They have only leased 8200 acres but they have/had a current option on the remainder (approx 9300 acres).
they sold their OPTION on 5100 acres to petrohawke because leasing is expensive and they werent flush with cash.
They still have the remainder as a current option with sidc 50%.
I think that if they can get this first well flowing,get access to some cash,they will try and do as much as they can with only sidc.
Their $20m credit line is open now but they will obviously need more cash than they can realistically get from this facility in a short time frame.
All the best.
- Forums
- ASX - By Stock
- AZZ
- Ann: Yellow Rose - A Successful Discovery
Ann: Yellow Rose - A Successful Discovery , page-79
-
- There are more pages in this discussion • 20 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add AZZ (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
RCE
RECCE PHARMACEUTICALS LTD
James Graham, MD & CEO
James Graham
MD & CEO
Previous Video
Next Video
SPONSORED BY The Market Online