Poor old Ungani.
H8 really is needed, otherwise, the field is likely uneconomic at rates below perhaps 300-400bopd (just a guessimate).
Which perhaps is why ROC is rolling the dice one more time on H8.
Suddenly.. Blina is somewhat important again, as in... anything that can prolong the production field life at Ungani.
I did not that Yulleroo continues to look very prospective..... ORG no doubt will farm in if Rafa has the goods, as its all about critical mass resource wise.
I cannot help but be disappointed at how this has all played out.
UH8 is a real disaster... the well cost has clearly blown out.
As for Rafa, hindsight is hindsight, but... Eric has been drilling in the Canning for 15+ years....... yep. That is a fricken long time.
How drilling just 2 wells took so long again... sigh (and to not have started early... again).
I know I am not alone in my frustration.
As for the cash position. Well.... they will have perhaps $15m at the end of March. Yes, it will be after the testing result, but... if I can be honest, unless Eric has another deal lined up, prudence would imply another injection of cash.
Seriously hoping ROC have a win with UH8. It will keep Ungani profitable.
Good luck to all holders. Hopefully Raffa finally turns the tide for BRU, as it feels like I have been holding this stock for a lifetime.
