1.068 miillion barrel is about 1000x less than 1 billion barrel. Varn requires US$5.5m over 6 months. At all-time high oil price during the quarter, they managed to add AU$350k. It is not clear if the long lead items have been booked into the cashflow report. Nevertheless, exclusively funding from existing cashflow seems a tad optimistic.
WEL Price at posting:
1.5¢ Sentiment: None Disclosure: Not Held
