The presentation is on ASX. RC spoke well, skipped a lot of detail and went straight for the key points. He is obviously trying to get back the shareholder support he lost through the SOA process and so he should be. Suddenly things have changed for the better, we don't need as much money and we're heading towards being a boring annuity company again.
$25m is all we need to boost reserves (not $42m) most likely to be raised by way of a rights issue. The reason is Palm Valley deep can be deferred and a large number of work-overs at Mereenie are now considered not necessary. Will raise money (if needed) for these things in the future when the share price has improved.
Mereenie stairway drilling could commence end Q4 or beginning of Q1 2018. No wet season concerns.
Agreement with Macquarie on the Mereenie gas marketing nearly done.
Moving forward with considering additional directors; High level criteria - production, subsurface experience; legal, accounting, finance; commercial experience in running companies in this current economic climate. Geologists need not apply!
Denny Crane!
Add to My Watchlist
What is My Watchlist?
