Looks fantastic, but the elephant i the room is well #2. There is still $12m (USD) gross to be spent on the platform this calendar year, plus $6.5 (USD) gross to drill well #2, which they seem pretty confident about. That's $9.25m (USD) net to BYE - that's 11.67 milllion AUD.
BYE had 6.25m (AUD) at the end of the March quarter and they've spent approx $1.75m USD since then on the platform. That is a net shortfall of approximately 7 million AUD.
At this point they're short on cash to complete the platform, let alone drill well #2. Farm-in to Metgasco?
BYE Price at posting:
10.0¢ Sentiment: None Disclosure: Not Held
