OK, just for you, and an opinion for others
The case against Peregrine
Shares issued to buy and fund exploration 7.3 billion
Miles from infrastructure, very expensive to develop
Winter only access for exploration
NPRA federal land
Willow court ruling, against Conoco development, further isolates Peregrine
Merlin 1 found some oil presence, but not enough to revisit and flow test.
Merlin 2 to drill N18,19 and 20 best estimate 329 mmbo, with COS range 19 to 28%
Merlin 2 odds are so low, no flow test is planned in advance of drill results.
Old managing director that purchased Peregrine resigned, and sold 152 million shares, why ?
Board has been replaced, why?
Action Speaks Truest - from MD David Wall, page-62
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