the share price rise is not sustainable with work program commitments, ep and public consultation, lease expiry and lead time to book rig and order items for the well. Not to mention little cash in the bank and NO JV
Why would anyone jv this when cooper has capacity for a 2 well farmin firm wells in their 3 well program?That is 99% going to happen.
Wake up. Dream on ,keep ramping the guts out of it. They simply cannot drill before lease expiry. The time it takes to sign a jv is months in its self. They have not got the capacity to order ahead of time like cooper and others have for their otway programs . A lease renewal takes time , anyone with half a brain can see no chance of drilling for at least 18months.
Its not going far for long with current assets, no matter what board.
Ann: $1.25M Institutional Placement & Appointment of Argonaut, page-30
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