hmph... if I and others had not already been here for 15+ years, I might be even more grumpy, but... I have made it this far.... I want to see BRU rise from the ashes and discover something similar to Ungani (gas or oil, whatever!) that finally makes the Canning the last premier basin for hydrocarbons in Australia.
In any case, the company should be sitting on approx $21m as of March 31st. So... all things being equal if I am reading things correctly, they plan to basically bring in a partner for Ungani (I mean.. BRU was able to get the other 50% back for a payment of $3.4m), with potentially some/all of the costs of drilling the Mars well (though annoyingly, there was no actual info on the prospect, versus the Raffa Shallow in the announcement... which gives some credence to those posters views regarding it being a smoke screen for the failure to progress Raffa to plan).
With BRU 100% funding the Raffa Shallow?
That is how I read it, but... clearly nothing is certain at this stage.
Either way, I would just like to see BRU drill. Perhaps many are here just for Raffa (which is fine), but... what is the point of being an explorer if you never drill exploration wells. I wish BRU would hive off all the other side hustles (even if they may one day dwarf the value of BRU currently), if only to enable it to fund more wells.
Ok... def back into my case until we see real progress.
(20min delay)