Interesting news re. the Arck. Finding a partner with the help of a professional organisation (?) has been an on going strategy with no successful outcome to date.
One can presume from this that either not enough work has been performed to validate/ secure a sizeable farm in partner to invest on Lnc terms or potential partners waiting for more favourable negotiating timing given Lnc cashflow not strong.
Questions I have:
1. How much will this drilling & evaluation program cost?
2. Does current bank balance / cashflow trend support this activity?
3. Article indicates within budget , but if this is new unplanned activity what has been dropped instead or is an asset sale likely to be announced?
Not sure how to read this announcement . Positive / Negative . Appears to be strategy change.
LNC Price at posting:
99.5¢ Sentiment: None Disclosure: Held