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How does one secure a funding partner? Is it like a shotgun...

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19crowe45

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28/07/24

15:40

Post #: 74950711
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Originally posted by CEOChair: ↑

I can report directly from the horse’s mouth that the plan is firstly to secure a funding partner for Shallow, plans for which are well advanced, so news imminent. On the basis that a Shallow discovery would be a significant enabler of Rafa Deep, the plan is to drill Shallow as a priority in Q3 and only then, by the end of Q3, recommence the strategic partner selection process for Deep, going into early Q4. In other words, we get a much better Deep Deal if we can fund much of it ourselves from the Shallow revenue stream. Doing it the other way round would introduce complexity in terms of a potential agreement involving the same permit EP 428, as well as on the alignment on value. This does make sense and I assume it means the Shallow partner to be confirmed shortly is in pole position in the Deep partner bun fight, assuming Shallow is a discovery. Directly from Tom. As I said, betting the house on Shallow.

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How does one secure a funding partner? Is it like a shotgun marriage?

BRU Price at posting: 8.5¢ Sentiment: None Disclosure: Held
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