$4m / qtr in admin costs yeah? Only 500 bopd? It'll be comforting to see > $10m in the bank but we're not flush. And getting back to 700bopd with current prices will be lovely. But we're still barely treading water.
L7 3D price will be 7 figures I assume. US$40m was the estimate I was given to do a drilling campaign. Becoming Operator at Xanadu could give us a cheaper expansion option to limp along.
I'm still expecting a massively dilutive CR to fund a drilling campaign. Assets will do well. Less so current shareholders.
Ann: Company Update, page-8
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