Cook will be the best possible, whether that is pure debt, a CR or dare I say it selling down the project a bit, perhaps to 15%.
Yes Buffalo would have helped, probably not from production cash, but from selling a chunk of the project and/or a better sp for a CR. However although it is not to be it’s not time to despair, with success at either Pavo or Apus also potentially giving the sp a substantial boost. Might make to two eastern permits valuable enough to earn quite a bit dropping our stake to 20% in them also.
Any decent success from any of this years three wells would count for me as a very good outcome ahead of FID, and at this stage it’s only one down, two to go.
EL
Ann: Pavo-1 and Apus-1 Drilling Update, page-68
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