Actually there has been no new exploration drilling contracts like farm ins committed to since the pandemic all the other smallcap drilling was already committed to before covid ,I would be glad to hear of any that struck a new deal during covid as I havn't found any yet, who would risk their job by allocating millions when companies are in cash preservation mode , the so called boom and rebound has been in property,used cars companies on the verge of bankruptcy and crypto. The overhang from the previous gas glut is evaporating, whats noticeable is the lack of new finds they may be there with large companies legacy tenaments but I can't find any just dry wells Ironbark,Dory etc
Fields were getting tired 3 years ago that is on decline ,try and dig up Westpacs gas analyst I'm looking now he said the situation was becoming desperate but already we have Beaches fields on decline hence the pullback in their SP.
As with flow well thats the 500mill question they had excellent shows in 1989 but it wasn't run for a few weeks as they were looking for oil at least here some risk is mitigated as the gas came out, some fields are bone dry nothing at all except mud.
I'm aware it may backfire but remain at a strong hold
Add to My Watchlist
What is My Watchlist?
