Hi Knucle. my opinion, on your questions, for what it’s worth..
I think the receipt of the final processed seismic will be worthy of an announcement. With that announcement, I would expect some commentary from TN with a bit more substance than solely ‘the data quality is better than the existing 2D..’ of course it should be. That’s why you shoot 3D.
I’m in two minds as to whether it is a two staged announcement. Maybe one on receipt, but a more detailed one once they can run their internal rulers over it all.
I would hope there will be some nice 3D imagery of what they see the Rafael structure as looking like (much like ones released back in the day for Ungani).
It is definitely time to start spruiking as a stronger SP, larger MC, in turn may (IMO) have an impact on the farm-out.. The stronger the company looks, the better..
Regarding the major near-term risks, I’d say the two big ones are obviously booking a rig for this year and finding a suitable suitor to join in on the project. I expect both to happen. To date the anticipated progress on the company forecast timelines from the past 6–12 months have been met. We will see if that continues this week with receipt of the seismic. The main risks if they get ticked off, then turn to drillbit risks. Will it hit what’s expected, will they be able to successfully test, will a rework of Rafa-1 be successful. I think most on this forum who hold, are confident that this will all work out, or at the very least, rationalising holding as the potential rewards are worth taking on the risks.. I sit in this boat.
All this is just an opinion. I hope all holders fill their boots and have plenty to celebrate in coming months. Better be worth the wait.
Here’s hoping we get the seismic answers this week.
BRU Price at posting:
11.0¢ Sentiment: Buy Disclosure: Held
