I've had time to review all the available Anshof documentation and this is what I found:
Anshof 2, the well currently being drilled, is an appraisal well. It's purpose is to more accurately define reserves and also to better inform where the next well, Anshof 1, will be placed.
Anshof 1 is a production well. As such it should flow higher than Anshof 2.
We clearly only have limited funds, so it is entirely logical to not fire off our shot with Anshof 2 but to hold back and wait for Anshof 1, the money shot. Once A2 results are known and the path forward is better defined, it will then be much easier to Cap Raise. I'd take all I could in a raise then, rather than a raise for a low flow appraisal well now, wouldn't you?
Good call so far from the Board.
- Forums
- ASX - By Stock
- XST
- Ann: Non-participation in Anshof-2 Drilling
Ann: Non-participation in Anshof-2 Drilling, page-6
-
-
- There are more pages in this discussion • 3 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add XST (ASX) to my watchlist
(20min delay)
|
|||||
Last
0.9¢ |
Change
0.000(0.00%) |
Mkt cap ! $2.893M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Featured News
XST (ASX) Chart |
Day chart unavailable
The Watchlist
LPM
LITHIUM PLUS MINERALS LTD.
Simon Kidston, Non--Executive Director
Simon Kidston
Non--Executive Director
SPONSORED BY The Market Online