A couple of interesting points from this announcement and I'm excited about both of them.
Firstly, peak flow rates have been achieved which means we are getting 2,200 barrels of the beautiful black stuff every day.
With the oil price still well above $80, that's an aweful lot of coin in the coffers. They also state that the entire project will pay for itself in just 12 months.
The second thing I really liked was the comment regarding our future. There was absolutely no indication that we are going to be flogged off cheaply in a hurry and that maybe these guys really did take over the old board because they could see a better path forward.
Whichever way you want to eye it off, this is a fantastic announcement today and in these uncertain times, to have a solid assett bringing in wheelbarrow loads of cash, is a seriously good thing.
LHD Price at posting:
16.0¢ Sentiment: LT Buy Disclosure: Held
