Woodlawn was in production for 20 years, so there's a bit more than "some historic drilling result" !!
You are right about the cash, though - it can only go down. So they have to add value at a quicker rate than they spend. There is plenty of scope to do that at Woodlawn, which was starved for cash under TRO. Plus the wild card of KNP. If that attracts a major, you'll be trying to buy back in at 50c, I hope !
HRR Price at posting:
14.5¢ Sentiment: Buy Disclosure: Held
TRO Price at posting:
6.1¢ Sentiment: Buy Disclosure: Held
