Well, I'm on board now.
Unless I'm mistaken, a well at Beehive is going to cost $30m to drill with all the risks attached (look what happened with BYE and their sidetrack wells).For a $40m market cap, a $30m well is a big bite. Add to that the "production linked payments" (which look like a royalty to me) and the company has got tremendous upside for NO RISK and no need to raise more capital.
I like it a lot.
Ann: Sale of Beehive Prospect, page-9
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