Ann: Sale of Range Gas Project, page-50

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barbal

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17/11/23

17:14

Post #: 70968997
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Originally posted by chickenliddle: ↑

The Board deserves a medal for bravery for even putting the renumeration request on the table after their pitiful performance'. I know some of these things are beyond their control, but quite frankly they have spent years trying to get us Exploration partners for the Subsalt plays and have failed. during that time we have paid them millions of $'s each year that could have actually paid for a drill or twos. Every year the cost of drilling is going up and they have no appetite to drill anything by themselves. Which means we are continuing to try to peddle shares in potentially very lucrative leases at bargain prices because we don't have much of a leg to stand on.

Hopefully our Mereenie, Palm Valley, and Dingo partners will want to drill to allow us to keep the lights on and feed our greedy exec's. Mac bank is the one that worries me, they could easily screw us over by not wanting to drill, as they don't need the money and could further deflate our share price.

We have multiple sub salt plays ready to go, but it seems santos whos been stringing us along for years would also like to have someone take over peak shares from what was said. So we both are looking for partners to take our respective peak shares. That could be difficult as I don't think Peak is going to go quietly into the night. they can stick around for quite a while making it difficult if not impossible for us to get new partners in. I would still like the board focus on zevon. We should drill it ourselves now, it is 100% ours, so no partners to hold us up, only our board, The drill is not going to be as expensive as any of the other sub-salt holes, If it show positive signs of helium, hydrogen, etc it will spur interest in our share price and may bring in new partners. but instead it looks like we will waste another $3m paying these exec's to dig us out of the peak and santos hole and maybe do another strategic review. and schedule another sub-salt play in late 2025, or 2026.

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"Additional $11m available to fund new development if needed""
https://wcsecure.weblink.com.au/pdf/CTP/02716707.pdf

"Debt facilities: $5m available"
https://wcsecure.weblink.com.au/pdf/CTP/02739484.pdf

Says it all really, they need jv for exploration.

CTP Price at posting: 4.2¢ Sentiment: Hold Disclosure: Held
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Ann: Sale of Range Gas Project, page-50

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Ann: Sale of Range Gas Project, page-50

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