I realise VEN would like the full entitlement taken up but have already said on a part raise the will prioritise Odin-2 scale.
That is all the JV has really wanted to know since September. VEN have now proved that there is scale and that they can successfully remediate it. It would be a shame if VEN wasn't able to at least get that done as operator.
IF the remediation is successful it is good news for both fields, improves cashflow moving forward and may even let the JV claw back some production revenue from last qtr.
To get the Odin work done VEN needs $0.4m for Odin-2 and some working capital so probably less than $1m required.
VEN Price at posting:
0.4¢ Sentiment: None Disclosure: Not Held
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