Right on schedule, announcement on 16/12 confirms that the Ivory Coast government have given the approval for RIA to start drilling and have access rights to CI-202.
While this is all to be confirmed by the drill, plans for delivery of up to 8000 bopd and 100 mmscfd highlight that this project is a big target (company maker) if oil and gas flow as expected.
Announcement also confirmed:
* Drill in Mid-February * Rig organised. GSF Monitor Jack-up rig to be used.
Given some stability across the wider market, this should be a good BESBS play.
RIA Price at posting:
26.0¢ Sentiment: Buy Disclosure: Held