I have a working hypothesis (based solely on my assumption) that...

I have a working hypothesis (based solely on my assumption) that if they get a good result at Bongo, they may look at cashing up - i.e sell their small holding to Caza. This way they can fund their upcoming FP2 drill and if SD as sucessful have further funds rather than going back to the market. Its a bit of a double edged sword as Bongo 1 gives them good cashflow and the uplift will provide more, but its all about a bird in the hand.

Just an alternative view. It would be good if they have options as potentially 3 drills going at once is fantastic, but also expensive and I for one wouldn't like to see another CR sub 2.

PS - They''ve obviously still got the option to farm out part of FP. - more options


Starting to all look very interesting again, and potential spud rally (times 3??) coming up

GLA

Maddoc