Assuming large amount of oil is proven in the upcoming appraisal well say more than 200 m barrels.
And the oil prices is lingering around $45 a barrels in the next 6 months, can anyone tell me whether the development will go ahead or the project will be mothballed until the oil price improved to a level which is profitable /viable.
Would the board brave enough to commit / spend hundreds of million of dollar to kick start the project in anticipation of $65 oil price ? I don't think so
Based on current form (last 2.5 years) nothing much will happen on the acquisition or diversification fronts , apart from cash burn, half cooked shares buy back.
What is the catalyse for share price improvement in the near term-- unfortunately I don't see one.
Ann: Daily share buy-back notice - Appendix 3E-KAR.AX, page-50
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