As predicted and EME (UK partner - 3% WI) has released news today worded in precisely the same way. As I said previously, AWE sold assets last December and probably doesn't need a debt facility and AUT raised one last year. TCEI is a private company. So, AUT proved that the AMI development was bankable and the two smaller listed partners have been negotiating a drilling programme for Sugarloaf with MRO and are now finalising debt funding arrangements.
Closer spacing drilling first, then drilling the Austin Chalk later.
I nearly trebled my position over December and now feeling positive about it.
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