The quarterly report from VEN definitelty highlighted near term plans for the Odin field.. "Planning commenced for the drilling of two appraisal wells on the Odin gas field, one on the eastern flank of the field in Queensland and the other on the western side, in South Australia. Well locations have been selected and work area clearances have been scheduled to verify suitability".
I am happy for this to proceed, however, like yourself would like to see a stable cash generation from current ops to help fund this. However, if it is not possible then it wWould be nice to have a pre-payment type of arrangement for this. Even with 1 out of 2 of these wells striking gas similiar to Odin-1, we could be onto significant gas/cash flows.
Current pricing around 1-1.2c potentially is very cheap, can't believe it is not in someones scope for a takeover. Purchasing these assets close to production and without the admin/corporate costs, surely some decent $$ to flow
MEL Price at posting:
1.0¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)