You never know this thing may take off at any time but lack of transparency with management with what is happening is enough for me to look elsewhere. I never really understood their updates regarding the flow rates at the Tamarana Wells - was flowing well, wasn't, things we should have done, things we will do - when, how, costs?
The new prospect offers hope as does more horizontal wells in the Cooper. Only trouble is all this costs money, money they do not have.
If the prospect has so much potential a farm-in would have happened before this surely?
And then you have got to look at "on what terms" this would happen. And then there is always another Capital Raising.........
On top of this they may owe the Govt $7m?!!
The ducks were all lined up and got shot!
All the best to those who chose to remain, hopefully if you have a low buy in (2 cents!) you will be handsomely rewarded.
