KKW, Hot,
That was my preferred option prior to the IP and still is. However, even though the figures suggest we will complete the 1st
appraisal well with still probably 15-20m in the bank, i just get the vibe that we will go for a decent raise {30-40m} pre
appraisal. It is logical SH's wishes v managements agenda, which although hopefully aligned longer term, shorter term they may
differ as far as this objective is concerned. Time will tell.......
50-80% COS is being ascribed to the Bellatrix {exploratory well}--very high considering Bellatrix is targeting a different reservoir,
but I'll take it. The FIRST appraisal well however would have to be considered a higher COS than Bellatrix.
GLTAH
FAR Price at posting:
9.3¢ Sentiment: Buy Disclosure: Held
(20min delay)