in fairness the $5m from gc1/KBC has come a cropper and I expect they were expecting big things from vali field > 6 mmcfd total - instead this is producing 2mmcfd while Odin appears to be around 5mmcfd. Would be surprised if MEL get a better deal as any funder can see they are bent over a barrel with limited near term funding options would love for this point to be proven wrong.
while VEN does have double our WI in Odin they also do have the better part of $4m cash to hand. Yes they have a significantly higher staff/admin/finance cost than MEL but I would say both parties are equally financially constrained as each other.
MEL Price at posting:
0.9¢ Sentiment: Buy Disclosure: Held
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