There is no doubt that being the first company to drill in a frontier basin in more than 30 years has been challenging, and it’s unfortunate that we encountered a fault in our last well at a difficult time with our previous partner not funding. That said, and notwithstanding the obvious risks associated with any exploration programme, we have nonetheless identified significant value and upside in the Uruguayan asset, which thanks to our current modest funding, we can still potentially realise through our ongoing partner discussions with a number of interested parties including our current minority partner Schuepbach International Holding LLC.
PRL Price at posting:
0.3¢ Sentiment: Sell Disclosure: Held
