Thanks Blakesley,- I have run similar "back of the envelope" forecasts, glad to see we are on the same page.
So what they put in their Dec 22 announcement:
1.Pre-production capital expenditure (site works and gathering system) US$M 1.4 2.Pre-production capital expenditure (drilling of four development wells) US$M 1.5
Trent said on a recent podcast expenses are probably a bit more than this... hard to pinpoint what.
I surmise that part one can't be divided into four, so not sure how practical putting 1-2 wells into production to generate short term cash to cover the others without diluting is. Certainly would be great if they could do it.
Still expecting 10% dilution though, don't think they would be able to debt finance their way into production. Either way will be a very profitable investment provided they get Voyager up and running this year.
BNL Price at posting:
3.0¢ Sentiment: Buy Disclosure: Held
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