Agreed CB.
The time lost and money cost of seismic at THIS stage, without a truly mind-blowing BOPD figure, is really unjustifiable at this stage.
"In regards to JV, even if we got top dollar from a JV partner today, it will look cheap in 3-4 years time , so its all relative, but a good JV today, such as bringing in a JV for Surprise and giving them say 40% on the basis that they pay for all costs for at least 10 wells over the next 2 years, would to my mind be a far more productive and financially beneficial."
This is excellent. I couldn't agree more. A JV now obviously needs to be carefully put together, but one that allows for greater future scope when we're still at our FIRST production asset seems to be the logical way to go. When we have this under our belt, we can play hard-ball all we like, with an inflated share price, and an already producing asset.
Good post.
RB
Agreed CB.The time lost and money cost of seismic at THIS stage,...
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