I understand from what was said at the AGM that EBR are negotiating to use another rig (not White Sands) to drill Emily 1 in the Cooper basin prior to Christmas. They will only make an announcement when the rig is secured but were quite optimistic. Emily one is 3.5mmbbl recoverable target.
Look out for announcement should be worth a cent or more to sp. White sands will then have to complete a further 6 wells next year. The drill will be on site to drill the Olympic Dam style target about 8/12. This could be massive. It might take time and quite a few more drills to fully evaluate but could easily be worth $1- $2 to the sp
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$1.17 |
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