Interesting read in AFR Street Talk, specualting company need to raise capital to fund 248 million worth of exploration and development in the first half.
However of more interest was comment that beach, and quote "reiterated a potantial farmout of its cooper basin shale assets is not seen likely until much later this year once appraisal work has been done on its resources, which should help lift the valuation and attractiveness to an energy major" unquote.
Draw you own conclusions, but stating the obvious for me highlights importance of current drilling and likely impact any success may have.
Cheers, vaga
afr article
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