1, Independent report will not be completed until conformation on increase reservoir pressure after gas is injected into Flax 1, expected timescale say 3 to 4 months from when injection commences, basically mid year.
2, He expects recover rates between 25 to 30%.
3, Current oil price = AUD 105 plus a bit.
4, He believes that ultimate inplace reserves over 250 million barrels but need more drilling to confirm.
5, Reason for poor communication is two of current INP Directors do not like to spook the market.
6, Knows that INP could be a take over target and doesn't understand why the market is placing such a low price on there share.
7, Aim in six months to be able to project finance the whole field development, so hopefully not too much more dilution.
I suggest that they need to increase the news flow, so we wait and see. Post this conversation I glad that I own so many INP shares and yet again will be buying more.
cheers
PC43
PS Forgot to ask when drilling will commence sorry
INP Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
