Looks like most of the cash will go towards getting more holes in the ground in the US.
From July Investor Presentation * Canning work program 2010 - Regional gravity survey to be shot 2011 - Multiple cored wells and assessment (subject to successful farm-out)
* Merlinleigh work program 2010 - Geochemical Program 2011 - Cored wells and assessment (subject to native title agreements)
* US Drilling program 2010 - 2-3 wilcox wells (approx cost $1mill per well to NSE?) - Edwards/Sligo (approx cost at current % is $4.5mill to NSE)
It will be interesting to see if they can get a farmin for the Canning by years end. BPT's program will hopefully bring some life to the sector before the year is out.
Cheers, turtle
NSE Price at posting:
15.5¢ Sentiment: LT Buy Disclosure: Held
