I am guessing is one of those situations where the price that the management wants is simply not there.... even with oil at 100USD.
This is my hypothesis: I am unsure whether there will ever be an external oil market dynamic that leads to a potential partner offering the the deal that Australis management wants but as the leases expire and available cash reduces, Australis management may either lower their requirements to accept a deal or carry out another capital raising (and extend the wait and see cycle).
Ann: Half Year Accounts and Appendix 4D, page-15
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