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Ann: Exploration success on Gemini 5, page-50

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Just_a_guy

5,420 Posts.

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07/02/22

19:23

Post #: 59414621
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Originally posted by TheGoss31: ↑

hahaha fair tag mate - I’m still of the view something will be announced around results at the end of this month (although the probability has definitely dropped to say 70:30 from 90:10 in my mind - based on the last couple of months of mgmt over promising and underdelivering, topped by todays announcement)

where I’m at is the offers/structures they are in final negotiations with at the moment look less like a 100% buyout and more like a farm-in or partial sale (either way, less upfront $ to calima requiring more $ from calima in the form of extra capex to fund monteny development / less $ available to fund brooks/Throsby)

my base case now is for farm in of up to 25/50% of montney from a third party assuming they find most/all capex to develop - still aiming for announcing something within 4 weeks (happy to be called out on it then, and will be as disappointed as the rest)

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good to hear. I’m thankfully over my annoyance at management over the cap raise so might stick with ce1 for a bit longer.

CE1 Price at posting: 23.0¢ Sentiment: None Disclosure: Held
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