Imo, Range had to be sold, excess to requirement in the medium term.
To finance future exploration, 2 new develop wells at mereenie and 2 new production wells at palm valley as well as progressing "subsalt exploration" they obviously need the money.
I really do think the subsalt exploration is more important then holding on to Range, according to the anns 3 targets are ready to go.
"Drill-ready sub-salt targets• Jacko Bore-2: lateral designed for flow testing of existinghelium discovery (9% measured helium)• Dukas-2: targeting fractured basement through thinner salt• Zevon: Large prospect in North West, on strike with Mereenie"
The market will look at CTP more favorable imo, the sooner they can get the jv re-structured and start drilling, untill then, just rely on the ngp and hope there are no more outages, in other words not much going to change in the near term.
CTP Price at posting:
4.6¢ Sentiment: Hold Disclosure: Held
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