Whatever transpires with Vietnam will take time so thats going to be an ongoing story but there is a range of other matters within the latest news that are good for Salinas.
Not least of which is the news appraisal drilling on Paris Valley CA is going ahead. Recoverable reserves are estimated at 25MB to salinas so that alone would be 7X increase in reserves.
Theres emphasis on increasing CA production which will kick off with the cyclic steam test and further appraisal drilling.
The Boardroom radio is worth a listen. Stein was one of the original directors of Fusion Oil. A partner with Hardman at Mauritania. This was onsold for around $120M. He then set up Ophir which is now valued at a billion.
If he repeats those performances at Salinas, shareholders will be very happy.
SAE Price at posting:
12.0¢ Sentiment: LT Buy Disclosure: Held
