Biggest bold statements are around production by BNL I reckon given they drilled one well at Voyager and haven't done a flow-test or appraisal well at Voyager as yet?
Usually I think you prove up commercial reserves then secure some offtakes which together underpin the ability to get debt/equity for the capex to build a plant.
Given they have no reserves at this stage they are lucky plants can be leased and in terms of customers they are saying they are selling to the spot market as I guess no customers can commit to BNL anyway for offtakes considering they have no reserves thus far?
They did raise money so some people are obviously confident regardless.. Still risks given the lack of reserves so I'd guess they have some disclaimers and fine print when mentioning production
BNL Price at posting:
2.1¢ Sentiment: None Disclosure: Not Held
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